AZ, I also want to issue a heartfelt thanks to you.
While it is true that nothing said here by anyone can change what the reality is, it has been a great learning experience to follow your documentation and logic.
Furthermore, it is heartening to get information that helps keep the doubts away. The truth is that my holding on this position is positive just with the COOP stock performance. It is not nearly as profitable as I would like but, in the bottom line analysis, I am OK.
The real reason I am emotionally invested in this (and I suspect as are others) has to do with being on the side of 'right'. Going way back, many of us believe the bank was seized without justification. Oh sure, there were 'reasons', but if the OTC documentation is to be believed, it was not appropriate for WMB to be taken down. Furthermore, if the scuttlebutt about JPMC Bank that came out a few years later is true, it starts to look like WMB was sacrificed on the altar of capitalism to save JPMC.
Today, the financial return doesn't matter as much. I'm retired and while (if it comes - and I think it will) it will change my standard of living, it probably won't make me that much happier. When my wife was alive, the prospect of taking those dream trips was important. Now, not so much.
What will make me happy is knowing that I made a good choice in choosing this stock (WMI). Every time I read one of your posts, it reminds me that there is a chance for some serious happiness (at being right) for which I have already paid the penalty (grief, anger, and frustration over the years).
I guess its kind of like being reminded that summer is coming when you are a kid in school. Or the anticipation of your favorite holiday. Or the hope that the girl will in fact go out to dinner with you. Or the anticipation of your team winning the world series. (Go Cubs!)
Keep on Keeping On, Brother!
Don't worry about those who are so miserable that they can only feel better by making others miserable and then glorying in the idea that at least everyone is. God Help Them.
I trimmed about half of what I wrote because these are the ideas that are important. Thanks!
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