Lehman Preferred Series "J" Preferred (fka LEHJQ)

[goldstandard]

Hoping that the balance sheet is released soon. it will be interesting to see how much the A/L gap has closed and I'm interesting to see what % a "modest increase" in illiquid assets constitutes. The balance sheet ending 11/30/09 should reflect even better on the asset side. I hope the reorg plan due in the latter half of 1st qtr (if that goal is met by A&M) gives us a good
idea of where these Prefd's stand. The plan is to emerge from BK within a 2-year time frame. Though Marsal charaterizes this goal as "nutty" I believe he thinks its possible, otherwsie wouldn't say it. Coming close to that would be great. It's is rather a short time away, relatively speaking. I'm ready for that balance sheet, but I'm not concerned with the delay. It's all good