Washington Mutual Preferred fka WAMPQ

[steved_45]

If you own commons you would be really rolling the dice if you didn't buy some P's and/or K's. There is a possibility that back dividends are paid which would make P's worth more than the K's. I feel you should own a minimum ratio of 80% pref's while others say 50/50. IMO

Basically at the current pps of P's and U's, U's would need to see a payout above 5.50/share to make them more valuable than P's. But P's are paid first so they could see the full 1000/share and the U's get nothing. IMO

Commons were offered $8/share by JPM several months before the heist but since then have been diluted, making that offer worth significantly less.

A $20 recovery per commons is suggesting about an estate worth $45BB more than liabilities while the current MOR (basically WaMu's balance sheet) barely has liabilities exceeding assets.