Replies to post #24886 on Washington Mutual Preferred fka WAMPQ

[rainbow1111]

Yes newbie, preferred can be wiped out if things go bad.

[HROLLER]

Why would things "go bad"? I think you need to do some DD before asking a question like that....Why not ask, "what is the current financial situation" or "what are our claims against JPM and the FDIC"?

[sidedraft]

Of course the preferreds can get wiped out if things go bad, why do you think WAMPQ is only trading at 3.493% of face value?

But being an investor in distressed properties means that YOUR assessment of the risk involved is what should matter to YOU, it's YOUR money.

If one is looking to place his/her cash in a risk free investment, none of the WMI issues should be given a second look.

But if you believe that a potential 30 bagger is worth the risk, buy WAMPQ and hold.