Cancel 2016.2
The Almighty
that's nice.... I like the fact that Wamu is up over 100% in the last two trading days...
APP - FDIC/JPM vs WaMu
- Thread starter DigitalDave
- Start date
that's nice.... I like the fact that Wamu is up over 100% in the last two trading days...
DigitalDave
Sexy Beast!
I like the fact that I suggested to you to buy the P's below $5 months ago, and they are at $99.50 right now, toppy. JPM maybe doubled since then, I'm up 2000% from the original price I bought them at. My tiny bit of K's I bought are up nearl 111% today alone. The commons, are extremely cheap right now top. I'm letting you know now, that though the preffereds are running, the commons will see money, and will get paid at a better rate than what you can buy the preffereds at. Though the preffereds are a safer play and you can still cash in at 10x gain, then hold for dividends. Commons are still looking like a 70-100x gain when all is said and done, and thats if Weil goes easy on JPM. JPM can repurchase WMI with WMI's own money before the seizure and commons will see 8-10 a share.
DigitalDave
Sexy Beast!
A piece of dog shit that is worth $1000 a turd. It's unfortunate you aren't bright enough to invest in something when plain facts are slammed right in your face about what is going on months and months before the media even remotely touches it. I'm just glad some people here looked into it and saw the same thing I did. Unfortunatly, the 'investment guru' of the board can't see a diamond in the rough, and is happy with minimal gains.
Topspin
Verified User
You owned that turd before it went to bankrupcy!!!
I wonder why business news isn't always touting stocks in bankrupcy???
DigitalDave
Sexy Beast!
I know I did, and I averaged down after that. Business news waited 9 months to tout the stock, though the facts were given to them too. You stick with what the fake ass analysts tell you, be happy, because they don't get behind a stock until they feel safe enough to tell you about it.
Topspin
Verified User
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The Almighty
I do thank you for bringing it to my attention last March/April
DigitalDave
Sexy Beast!
If you read what I posted back then, I didn't even hint that this was a long shot. I stated that you should only invest with what you can afford to lose, but I was very confident, and for good reason. The jump this last few days isn't due to the litigation, which is only going to add value. The run is due to the NOL's being reported. WMI has an extra $3 Billion, but the funny thing is, I told you about those too over a month ago. This run is due to hoards of people who know little about what's going on, like yourself, and just follow the herd, and finally see that preffereds really will get paid, without litigation being concluded.
Facts are facts, and they were handed to you on a silver platter, and you laughed at them. Now they are smacking you in the face. Super and Damo didn't just take my word for it either, they did their own analysis, and they saw I wasn't bullshitting. I'm not bullshitting you now either, an Equity Committee is being formed while WMI is still under bankruptcy protection for a reason, and it isn't because commons won't see a dime. Your analysts are still dumbfounded as to why an EC is being formed, but it's a very simple concept... equity is going to be 'in the money'. The run on those is very minimal at the moment, and they are going to pop just as the preffereds did once those settle down and news about the Equity Committee comes through that it's final. This is not anything you'll see on thestreet.com, don't wait for those douchebags to report the news after the fact. Take your time, do some reasearch into what I'm telling you, because you still have a chance at some huge gains. Don't wait for Cramer to scream Boo-Yah at you.
DigitalDave
Sexy Beast!
No problem fellas. I know there are a few others that may have taken the advice, and ran with it. The bucking bronco is still active, so don't be scared by the dips. But if you are looking to play a little with your gains, move a small percentage of what you hold in preffereds (I.E. 5%, your initial investment) and buy the commons before others do the same, unless your waiting for your investment to turn long... which isn't a bad move either.
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The Almighty
Bought commons at .18 and then again when it dipped to 0.10. With this run in Preferreds I am considering shifting some more towards common.
Yeah, I was watching this and wondering if it was time for a move as well. I may take just a percentage from the Ps into the commons...
Cancel 2016.2
The Almighty
The way I see it... IF P's were to go to face value from here it would be 10x your current value.
Commons going to $2 would do slightly better.... and I think commons could see $5+ relatively easily. Obviously risk increases quite a bit by shifting to commons, so it is a balancing act of risk/return that we each have to make for ourselves.
The best part... I converted my shares from my IRA to my Roth last year, shifted some assets into an energy deal to keep my AGI under $100k (to avoid blowing up the conversion)... now the gains in Wamu are tax free.
DigitalDave
Sexy Beast!
Ok, Equity Committee is complete. 5 of the 7 names on the committee I've interacted with on various message boards and email. There is also one small hedge fund on the committee. This is good news.
Weil is opposing the committee of course, but they don't have much of an argument because the arguements they do provide really have no bearing on whether an Equity Committee gets formed or not. Considering Equity also represents preffered shares, and with the NOL carryback, they are 'in the money', the arguement that common's are not currently in the money does not effectively dispute the requirement that there is a significant likelyhood that equity will have a recovery. Their only other arguement was that shareholders have not provided anything much of value to WMI. I have to laugh at that because I've seen them use arguements brought forth from other investors that gladly sent them that information to help with the case, almost word for word. So, it almost seems as if they are throwing us a bone, doing their duty to oppose, but understand they don't have much of an option. So the next thing they want is a cap on expenses for our lawyers. They want to cap it at $250,000 a month. To me, its ridiculous to request that, but we are one resourceful group of shareholders. If it comes down to that, we will just band together, like we have for the past 16 months, and do the grunt work an provide the information to our lawyers so they don't have to do the leg work.
Weil is opposing the committee of course, but they don't have much of an argument because the arguements they do provide really have no bearing on whether an Equity Committee gets formed or not. Considering Equity also represents preffered shares, and with the NOL carryback, they are 'in the money', the arguement that common's are not currently in the money does not effectively dispute the requirement that there is a significant likelyhood that equity will have a recovery. Their only other arguement was that shareholders have not provided anything much of value to WMI. I have to laugh at that because I've seen them use arguements brought forth from other investors that gladly sent them that information to help with the case, almost word for word. So, it almost seems as if they are throwing us a bone, doing their duty to oppose, but understand they don't have much of an option. So the next thing they want is a cap on expenses for our lawyers. They want to cap it at $250,000 a month. To me, its ridiculous to request that, but we are one resourceful group of shareholders. If it comes down to that, we will just band together, like we have for the past 16 months, and do the grunt work an provide the information to our lawyers so they don't have to do the leg work.
DigitalDave
Sexy Beast!
Optimists are predicting settlement this week. Pessimists think we will only settle on the $4B plus a little extra. Either way, this week is a big week. Stay tuned, Friday we will get the final word on what's going on behind the scenes. We know JPM felt the heat and wants to settle, and so does the FDIC. So, WHAT the settlement entails is the question.
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The Almighty
here's to a potentially very happy end of the week...