Thanks Clawmann, I wish I saw this earlier. It is basically what I said and applies to all stock. The important portion means you have to decide when to apply your loss. It advises sooner. Mostly likely when KKR came on. If you bought 100 shares at .25 = $25. conversion .034 gave you a rounded up 3.4 shares. At today's price you have $7.75 total. The Break even today is $7.75 Per share = $5.47 loss per share. IRS only limits personal losses at like $2500 on taxes. WMIH has a cost basis of zero and will be all capital gains, unless you didn't sell. Your article doesn't imply this isn't a good idea though by saying you should max your cost basis now and not wait for LT distributions.