Very interesting DD you posted Jestiron. I agree with you WMI subs are huge. I tried doing some DD on the internet and a proper valuation for the subs is not easy to find. They are worth Billions but I have no idea how many billions. Should be worth a minimum of 25 Billion up to possible 125 Billion if Diamond Guru is correct. I'm not quite sure how that will effect commons cause I'm not sure how subsidiaries profit a holding company and such. Very complicated.
If anyone knows please enlighten me but I do know we are in a pretty good position right now.
It does look like Weil and Co is playing smoke and mirrors perfectly to hide the real asset value of WMI. We know it the estate should be worth much more then it is currently although like I said before, everything is complicated. I've tried to access the situation the best I can with the numbers given and it looks promising.
By March 23rd, 2010 we should know if a settlement is coming or if this will be a long battle in court. Until then I will flip some of my position regularly while holding on to most of it in case we get a surprise settlement.
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