Washington Mutual Preferred fka WAMPQ

[Chiron]

***The bottom line with any of the Wamu stocks is that the company was/is BANKRUPT. They filed Chapter 11.

Never mind the circumstances, they are a BK company, and buying any of these stocks was very very risky.

You could have bought a myriad of other stocks in the summer of 2008, or Spring 2009 that have held gains and done extremely well: AAPL, MA, etc...

People took a risk here because they were cheap stocks, and for a while the return looked promising. In retrospect, we all should have sold out in March 2010. But no one had a crystal ball here. BK stocks are very very risky and only a handful ever really produce the big gains like VRML, Pilgrim's Pride, etc.

We were up against the toughest enemies out there: JPM, FDIC, WGM, and 4 Hedge Funds!

Equity will survive. Preferreds will do well over time. That is a big victory. It's time to move on here, and look forward to the newco.