Fremont General Financing 9% TOPrS (fka FMNPQ)

[Enterprising Investor]

Reorg expenses always seem unfair to investors.

LTV was the largest-ever filing at the time in 1986 with $4 billion at debt. It took 7 1/2 years and cost nearly $270 million. It eventually made a second trip December 2000.

It may seem to most that everyone is far apart. However, everything should start coming together quickly once all the parties and the judge are in court room discussing the various disclosure statements and plans.

A small amount of erosion is normal. Remember where FMNTQ was the trading day before the Debtor plan was filed? $.30. The plan was disclosed and down it went. It came right back up.

I have not yet redeployed my proceeds into FMNPQ. I am NOT one of those who says, "I hope it goes down so I can buy more". I just have not pulled the trigger yet. The only concern is buying back into FMNPQ when I already own FMGC.GB reduces my diversification. Finance is my life. This causes me to have to much in financial services companies, although my 401-K with all those C units has done well since Jim Cramer keeps plugging away. There are several Qs in other industries getting in the same situation as FMNTQ was in April when I entered.

In any case, if the OEC plan (or equivilent) capitalizing on the banking fallout would be confirmed, I would quickly buy in. Plus, there are some profitable community banks out there, even in CA.