Mr Cooper Group Inc (COOP)

[kc_speculator]

As a holding co., the WAMU we refer to is what's left of the old WAMU. JP Morgan bought the banking business (branches, lendings, financials for the bank), so the current WAMU that is in ch 11 bankruptcy is not in the banking business right now. That business was stripped from them and sold.

They don't have to make money right now, they just need to be able to pay their debts and still be afloat above water. Many are betting on WAMU having an overwhelming amount of funding...but I don't see it. The stock certainly has potential, provided we DO exit ch 11 and the common shares are not done away with. But the volume of trading would indicate against the common shares being evaporated, IMO.

4.4 Billion SHOULD be going back to WAMU, as it appears to be their cash deposits. But that's not solid or certain yet, and a dangerous basis for decision in my opinion.

I bought low and sold on the way back down, and did very well. Then bought more when it went down further. I've banked my profits and will hold to see where we end up in a year. In my opinion this is no quick flipper.

GLTY