Mr Cooper Group Inc (COOP)

[Yanik]

I have plenty of p's and k's and h's dont worry about that. The answer is very simple. I hold a lot of commons. I wont disclose exactly how much, but I cannot bring myself number 1 to sell at a loss and put that seed money into p's even if the conversion is more favorable. Also many of my shares are already sitting at long term capital gains status. Also when I buy more commons tomorrow as the sheep on the Y board flock to P's I plan on buying more prefs as well.

So dont get me wrong. It is not that I am unaware of the 70/30 conversion. I do however think that ratio will stand in order to move things forward and to fully secure the releases of all classes.

Heck lets put up a scenario here. lets say the sheeps flock in mass and the pps reflects the actual conversion price into new shares for the commons. Do I still think its a good buy? of course I do because I know despite the higher conversion ratio in the prefs that the market value of the new company will go up over time. So to me its no big deal just staying put and adding to all 4 wamu flavors until I am unable to anymore.

You are damn right I have been fighting the good fight for a long time along with many other wamu patriots. I am looking forward to the future and if they locked all my positions tomorrow I would be just as happy with what I have already.

So to answer your question. Yes 100% the prefs are a better buy with fresh capital. I get that and I have been adding accordingly. However even still the commons and my average which gets brought down with every common purchase to me is still a good place to add as well.

Now I get the point posters are trying to make for people to sell commons and convert into P's even if they are selling for a loss because they would end up with more shares. I just think everyone has there own strategy and also for tax purposes as well.

I think I will make out well regardless on all my positions over the next couple of years as we execute the business plan so im not going to radically make changes to my current allocation. I am just going to keep doing what im doing.

I hope that answers your questions.