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Wednesday, June 27, 2012 1:36:36 AM
The final checks were a fraction of a percent held back for finalized fees. But even those 'bonus checks' could be substantial depending on how many shares you owned. The only way you could get a $10 check was if you only owned $233 worth of dimes at .07. And why even bother buying for that?
Since the dimes were selling at .06-.07 in the last month, I dumped my preferreds when I ran the numbers and went all in with the dimes. It was funny. I think one other guy and me were competing for the shares because when I removed a buy order, the bid would fall way back down to his. Kind of fun.
I'm shocked everyone wasn't buying them because of the superior payoff. How else can you make 100% with zero risk in one month? Isn't that one of the reasons we all followed the case so closely all of these years? For an arbitrage opportunity like this?
I'm guessing the reason is because most people didn't bother reading the settlement agreement, running the numbers, or were otherwise confused by the settlement, which was convoluted.
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