Washington Mutual Preferred fka WAMPQ

[mrholty]

Phillips point is simply in the absense of news stocks that are event driven tend to decline for many reasons
a) investors looking for a catalyst stay away
b) forgotten
and on and on.

Add in the fact that in theory every month delay eats up a part of the estate in legal fees and interest and it simply makes sense for the chart to slowly grind lower. We all know that but it doesn't make one happy. However the announcement of a settlement should move the shares to damn near that value almost immediately, therefore one has to be in it to win it.