Replies to post #2222 on Washington Mutual WAHUQ Trust Prf (fka WAHUQ)

[NASCOW]

meanwhile it made a few retail shareholders multi - millionaires in the first couple of years of post seizure

[56Chevy]

I get the frustration/anger...there's always a risk that a case can go the wrong way even with favorable facts and figures.

I thought this case got off on the wrong foot to begin with and was never set back on course to avoid where it sits now.

OEC's disappoint in one way or another more often than not.

I don't think the Hedge Funds were guilty of insider trading (spare me the hate mail Ihubbers it's just my opinion). There was a reason the hounds backed off that hunt. They may have won in the court of public opinion but lost in a court of law.

Equity was offered greenmail to get them to shut-up and go away. It worked.

I think mediation will produce a settlement for DIMEQ of two thirds what they want and the rest will flow to PIERS.

Those who have been in this a long time are understandably tired of the battle but if given the choice I'll take stocks in newco because they offer me the best chance at recovery over time. With newco's I get out of the unpredictable confines of the courtroom and get on with a whole new game. If I take cash my road to recovery ends there. It's time to consider value and how that can work to my advantage.

[Kharybdis]

I know it is a very popular sentiment to bash all of the attorneys in the case and to bash the PIERS holders and kick them in the tenders but just realize that not all PIERS holders are the enemy and then some of us PIERS holders really don't feel like there is anything we need to come to grips with at this point in time.

I have held a nice position in DIMEQ since April 2010 and traded in and out of WAHUQ and WAMPQ throughout the case as things zigged and zagged. I am as big of a DIMEQ homer as there is and I have spent a lot of money and a spent a lot of time to further the cause but when WAHUQ took a big dive recently I bought a nice position as a hedge against my DIMEQ and the decision had nothing to do with my conviction for DIMEQ but everything to do with money management and a realization that our case could come down to one factfinder's interpretation and that she is human and not infallible. Is it a perfect hedge? Not quite, because of the many different things that could still transpire. But there are also scenarios where one can simultaneously make money on both the trade and the hedge. I wasn't so bold to do this when WAHUQ was trading north of $20 per share but after a greater than 90% decline from their highs, the PIERS finally looked attractive enough to use as a hedge. Maybe others are doing this, maybe they're not but in my estimation there is a nice probability that one or the other may be worth a few multiples of the current price and as deeply as both are discounted vs their max upside, only one of them needs to hit.

JMHO