Fung, that's what we are trying to decide. The more we all know, ESPECIALLY in these opaque bankruptcy plays, the better off are the odds. There is one particularly intriguing (or troubling) anomaly that has yet to be explained, but there IS a reason for it, at least at this juncture....that is, as we all know, the Preferred is senior in the capital structure to the common, yet it trades at a lower price. Since both shares are trading sometimes several thousand a day, there is real money being wagered on the common ahead of the preferred....why is that? Somebody is making a bet that is counter-intuitive. Little by little, through civil give and take of thoughts/ideas/research or insight, we need to peel the layers away and look, either for that reason, or maybe, why the market is wrong. Once we have as many facts as we can get to, then the answer to your question becomes clearer.
PS...Slider...I never intended to be critical, only constructive, in the aim of us all being better able to answer Fung's question. I apologize if you took it that way
PPS....Fung...at this point, I am long 5,000 preferred, but continue to be very perplexed at the price anomaly. I am seriously looking for the board to provide insight as to why or why not they feel differently
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