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Re: A deleted message

Saturday, 11/22/2008 12:08:53 AM

Saturday, November 22, 2008 12:08:53 AM

Post# of 42851
Hey prof , I’m ready to turn in my assignment again!

Listen tough guy, it doesn't bother me when someone says something negative about WAMPQ, it bothers me when someone makes posts that are completely useless.


I know that the dividends for WAMPQ aren’t going to get paid at all , but thanks for pointing that out out again. I find your advice very helpful.

1. The true value of WAMPQ is in its liquidation value/ conversion preferences. Hands down WAMPQ wins in this particular situation. If liquidated at face value = $1,000 share. If converted, you do the math, you do such good research that you should already know the value of WAMPQ and thus wouldn’t be having this argument that you continue to lose.

2. The true value of WAMKQ is the $25 liquidation value AND the dividends that aren’t being paid while they are in BK, but are accruing and are considered payable while they are in BK. You don’t have to believe me, however, WAMKQ holders will get their divis or an equivalent market value comprised of the newly issued stock ( I feel there will be new stock and warrants will be a big part of the game)

( all dividends payable upon emergence from CH 11) .2528 per share 4 times per year AND the liquidation value of $25 per share (but you might have to wait until 2011, depending on what happens).
3. WAHUQ doesn’t need anybody to argue on behalf of it because it is getting paid in full, and that should open your eyes to the value of the other 2.
4.
Now I only have .
Now I am starting to eat up the common shares again to finally hold them instead of flipping them. I am planning on buying atleast 50,000 more shares if WAMUQ once in gets down to .0015 and .02 If it doesn’t get down that low, then I won’t have as much fun. I am VERY much looking forward to watching this stock slowly and methodically head towards zero, because I know that super cheap shares are going to be available up until the end. MMs might give it one good day before they drop it low, but THE LOWER IT GOES, THE MORE I CAN BUY, and that is exactly what I am going to do as long as I have enough time for the price to get down there. If nothing else it is fun to put in those orders for huge lots!

I have already made enough money by flipping these 3 to protect my investment with preferred shares of other companies that are not in BK and took a beating this week.

You need to find out what the words “liquidation” and “default” mean and maybe you’ll find the true value in these preferreds AND If you think that having the security blanket of an exact liquidation value is less important than dividends, then you are a total lost cause. Your own words in message 2812 stated the following:
“For preffereds the only thing matter is the dividend (or WMI goes to liquadation), without dividend they worth nothing”
You need to learn some grammar, learn how to spell, and learn how to do real DD.
I personally love accounting, examining financial statements, and precise verbage, especially if such verbage can be found in a prospectus. Verbage found within a prospectus is more than precise when it comes to the terms of an issuance, however, due to widespread incompetence (hint, hint) terms of an issuance can have multiple interpretations, but just because people like you don’t understand, doesn’t take away from the fact that there is only 1 TRUE interpretation.
All 3 of the Washington Mutual preferreds are worth more without dividends than the common stock! You must not know what investing is if you don’t believe me. Yes, you can still make a LOT of money off of WAMUQ, but the fact remains that these preferreds are the real deal. Look at who issued them. If you don’t trust Washington Mutual enough to honor their terms, then you shouldn’t have bought their shares. Thanks for playin’!
Class dismissed.

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