Trenwick Group, Ltd.(fka TWKGQ)

[Dondoodit]

You remember well. Price was about $0.04-$0.05 when I posted this:
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_T/threadview?m=tm&bn=26157&tid=46674&mid=46694&tof=5475&rt=2&frt=2&off=1

Remember the idiotic attempt to force an equity committee into the bankruptcy, led by Albert the AZ real estate lawyer and dk12065 who operated out of NYC?

I made quite a bit of money on the Trainwreck when I shorted it on its bounceback following the decline it took along with most reinsurance stocks following the 9/11/01 attacks. Covered at about $1-$2 knowing it was a gonner, then watched the idiocy that developed on the Yahoo board as people kept thinking they could get a bounce, first to $0.75 then the target became $0.25. Never reached, of course.

Then there was the sage advice offered by No_Strap_That_Damned_Us, who I eventually outted as a nutcase libertarian that was running for the post of California's insurance commissioner.

Can't say that I recall advising that the LaSalle preferreds were as worthless as the Trainwreck common -- would not make a lot of sense. I do recall telling the board that I thought the crowd in Boston was trying to steal any value available when they tendered for the preferreds at -- what was it? -- something like $1. They were the obvious winners.