Replies to post #1768 on Lehman Brothers Holdings Inc. (fka LEHMQ)

[Stock]

LHHMQ trades. Thanks for sharing your honest work.

Time & Sales
Price Size Exch Time
0.25 35000 OTO 14:07:17
0.15 2000 OTO 13:44:27
0.25 650 OTO 13:29:35
0.16 979 OTO 13:07:27
0.35 101 OTO 13:07:27
0.15 1080 OTO 13:07:27
0.15 10000 OTO 12:57:46
0.16 10000 OTO 12:57:46
0.15 600 OTO 12:45:32
0.15 600 OTO 12:45:26
0.15 1000 OTO 12:44:27
0.15 1000 OTO 12:44:23
0.16 1106 OTO 12:44:19
0.15 1420 OTO 12:44:19
0.15 300 OTO 12:38:43
0.16 300 OTO 12:38:40
0.15 300 OTO 12:38:40
0.15 100 OTO 12:34:11
0.14 100 OTO 12:34:11
0.15 200 OTO 12:31:50
0.14 200 OTO 12:31:49
0.15 1000 OTO 12:25:38
0.14 1000 OTO 12:25:38
0.14 1200 OTO 12:20:11
0.15 1200 OTO 12:20:11
0.15 2700 OTO 12:18:53
0.14 2700 OTO 12:18:53
0.14 3675 OTO 12:16:35
0.15 3675 OTO 12:16:34
0.15 2000 OTO 12:15:24

[algol]

Hey Joe Stocks,

It appears that the P-series preferred stock is the best bargain right now! This one has a face value of $1000.00 a piece, and is CONVERTIBLE into common stock at any time.

Here is a description of the P series preferred stock:
http://www.quantumonline.com/search.cfm?tickersymbol=LEH-p&sopt=symbol
This is now trading in the range $1.00-$1.05
http://pinksheets.com/pink/quote/quote.jsp?symbol=LEHPQ#getQuote

From the first link above:
"The preferred shares are convertible any time at the holder's option into 20.0509 common shares of lehman Brothers Holdings Inc. (NYSE: LEH), an initial conversion price of $49.87 per common share."

So, if you buy 1000 shares of LEHPQ you pay now $1000-$1050 (as I did today). If you convert 1000 shares of LEHPQ into common stock (LEHMQ) you get 20,050 shares, which are trading right now at $0.245 a piece, meaning that you cash about $4900 (menus $30 processing fee). I am in the process of doing the conversion now (for half of the LEHPQ shares that I bought today). I hope that everything goes smoothly.

Good luck to all!