Agreed. I'm far from an expert when it comes to the market, but I think most people who buy penny stocks are looking for a get rich quick scheme. There's nothing wrong with that, I like to gamble myself, but I don't think people realize just how rare it is for a penny stock to take off. I honestly don't know the percentage of penny stocks that pay off, but I'd guess it to be a fraction of 1%.
I will always prefer stocks with little to no debt and a stable, rising dividend. JNJ, PEP, WM, etc. are all stocks worth owning, IMO. You're not going to get rich investing in them but you will make money over the long term, and you're not going to lose your ass either.
As for this stock in particular, I think a lot of people could end up being disappointed. It seems that a lot of people (not on this board) are already counting their money, despite the fact that there is no real reason to think WAMU will see a dime. I bought a few thousand shares a month or so ago, but quickly sold a week or two later. I said I might buy back in if it got down to .06 or .07, but I doubt I will do that now. I just have a feeling WAMU takes it in the ass on this one.
Is this board still operating? No messages after 11/20. What's up, mon?
Let me also say that I REALLY enjoy your insightful and exceptionally well written postings. I only discovered this board a couple of weeks ago, and it's taken me time to come-up-to-speed with the issues at hand. Your many postings, coupled with my own DD, have helped me to do just that; and I'm now 30k+ into WAMUQ and waiting for .10 to add another 20k or so. However, in the period in which there have been no subsequest postings here, I have (and perhaps many others) had to slough through that mindless crap at Investorshub.
Please return mon. Your absence is troubling.
Jah Guide.
bobmarley
Greetings to you kuwiness. I've noted that there have been no entries on the board since 11/20. Is it still in operation?
Let me also say that I REALLY enjoy your insightful and exceptionally well written postings. I only discovered this board a couple of weeks ago, and it's taken me time to come-up-to-speed with the issues at hand. Your many postings, coupled with my own DD, have helped me to do just that; and I'm now 30k+ into WAMUQ and waiting for .10 to add another 20k or so. However, in the period in which there have been no subsequest postings here, I have (and perhaps many others) had to slough through that mindless crap at Investorshub.
Please return mon. Your absence is troubling.
Jah Guide.
bobmarley
Sorry Mr Marley. I've kinda posted all relevant information that's been brought to my attention thus far. Until I got something further to add, everything else is just speculation and I'm trying to stick to the facts.
With that said, I'm happy to here you're finding things you like that tells you to buy more WaMu. I'm slowly accumulating and have a big buy order in at .10, which is where I originally told folks to start buying it. Since then, it's ran over .40, and now back to around .10 ... incredible.
I have high-hopes still. When everyone else is sitting twiddling their thumbs getting more and more pessimistic, that's when something big is likely to happen IMO.
I'll see what new DD I can drum up from recent court-hearings/filings and will hopefully be able to share more with the board. Sorry if my absence was troubling, I try to keep the China/OTCBB/Pinksheet threads up-to-date on a regular basis.
Have a Happy Thanxgiving RX Forum ... Gobble Gobble :toast:
IMO patience will win out on this one. Dont get discouraged. It could take a year but there should be something soon. Many people have been panic selling and trying to sell and accumulate more shares. This is very risky cause if there is a settlement it will be halted. you would hate to be caught with no pants when this happens. Not worth the extra couple shares IMO.
I'm in ... but my optimism is waning because:
Greetings to you, mon. In trying to get my head around this matter I found your previous postings to be very informative and helpful. You asked questions that were important to pose.
But I'm starting to have doubts as this BUBBLE continues to expand. I'm beginning to think as follows (and would like to hear your assessment, however brutal):
Even if the judge is daring enough to grant a summary judgment as to the $3.9B (which she probably isn't - THINK ABOUT IT: would YOU turn over almost 4 BILLION dollars to someone without the benefit of a trial (it being the one sure thing that would protect you from the eruption of recrimination that will follow the verdict; YOUR verdict?)), JPM is not going to make an offer of settlement that WMI will accept ... at least from a behavorial point of view.
I've seen many postings where people seem to believe that because cash is king, any settlement will take place by virtue of a stock swap. The speculation seems to be 3-5 for 1. But nobody's addressing this problem: were such a swap to take place, then it would result in WMI being merged into JPM. And what's the very first thing that JD is going to do to all WMI execs that dragged his company's good name (and share price) through the muck with their multiple accusatory counterclaims? And their having forced him to spend millions on $495 p/hour attorneys to defend something that is now 'settled'. They'll be butchered and thrown out onto Park Avenue, that's what.
And guess what, those guys know it! These are very, very smart people who have succeeded in climbing very treacherous corporate ladders. They know what's coming. Indeed, they've probably butchered a few others in their time. So I don't think that they're going to put themselves in such a position. AND THIS REALLY TROUBLES ME SUCH THAT I CAN'T GET AROUND IT AND BACK TO MY EARLIER FEELINGS OF OPTIMISM.
Until I can get my head around this behavioral issue I'm pretty much at the point where I believe that WMI will refuse any settlement, and hold out until such time as (1) it emerges from Chapter 11 (which I absolutely think that it will); and (2) finds a likely company into which it can merge itself on a 'non-hostile- basis. Everything about that scenario tells me to not expect a payday for another 2 to 3 years.
:think2:
Be well brudder.
Jah Guide
Greetings to you, mon. In trying to get my head around this matter I found your previous postings to be very informative and helpful. You asked questions that were important to pose.
But I'm starting to have doubts as this BUBBLE continues to expand. I'm beginning to think as follows (and would like to hear your assessment, however brutal):
Even if the judge is daring enough to grant a summary judgment as to the $3.9B (which she probably isn't - THINK ABOUT IT: would YOU turn over almost 4 BILLION dollars to someone without the benefit of a trial (it being the one sure thing that would protect you from the eruption of recrimination that will follow the verdict; YOUR verdict?)), JPM is not going to make an offer of settlement that WMI will accept ... at least from a behavorial point of view.
I've seen many postings where people seem to believe that because cash is king, any settlement will take place by virtue of a stock swap. The speculation seems to be 3-5 for 1. But nobody's addressing this problem: were such a swap to take place, then it would result in WMI being merged into JPM. And what's the very first thing that JD is going to do to all WMI execs that dragged his company's good name (and share price) through the muck with their multiple accusatory counterclaims? And their having forced him to spend millions on $495 p/hour attorneys to defend something that is now 'settled'. They'll be butchered and thrown out onto Park Avenue, that's what.
And guess what, those guys know it! These are very, very smart people who have succeeded in climbing very treacherous corporate ladders. They know what's coming. Indeed, they've probably butchered a few others in their time. So I don't think that they're going to put themselves in such a position. AND THIS REALLY TROUBLES ME SUCH THAT I CAN'T GET AROUND IT AND BACK TO MY EARLIER FEELINGS OF OPTIMISM.
Until I can get my head around this behavioral issue I'm pretty much at the point where I believe that WMI will refuse any settlement, and hold out until such time as (1) it emerges from Chapter 11 (which I absolutely think that it will); and (2) finds a likely company into which it can merge itself on a 'non-hostile- basis. Everything about that scenario tells me to not expect a payday for another 2 to 3 years.
:think2:
Be well brudder.
Jah Guide
Have you considered this problem?
Greetings mon, and best wishes to you.
I've seen many, many postings (some of which are on this board) where people seem to fervently believe that because cash is king, any settlement will take place by virtue of a stock swap. The speculation seems to be 3-5 Qs for 1 JPM. There's an awful lot of kumbaya-hype around this ... But nobody's addressing this problem: were such a swap to take place, then it would effectively result in WMI being merged into JPM. While WAMU, the bank might very well be reorganized and continue to effectively operate ... WMI will be toast.
But if that were to happen then WMI would be owned by JPM and all of the former WMI execs that participated in the legal proceedings against JPM would be a great risk of losing their new employment. In fact, I'd think that outcome to be absolutely certain; especially in light of the highly disaparaging nature of the bankruptcy counterclaims ("allegations of fraud, illegal conversion", "theft" etc.), as well as the DC proceedings. Moreover, I would think these to be people who have succeeded in climbing very treacherous corporate ladders in the past; and in that regard they would know what's coming. Indeed, they've probably done the same thing to others when WMI acquired companies in the past.
In order for a stock swap to be carried out, these same highly sophisticated people would have to agree to 'walk the plank' as it were, and accept an outcome that would result in their being jettisoned from the ranks of corporate power, influence and wealth. How likely is it that they would go willingly into such a dark predicament? NONE I think. So why has everyone drank the Kool-Aid on the stock swap outcome? There's a BIG-TIME disconnect somewhere here. Or maybe I'm just not understanding something that's very fundamental and very important.
Have you thought about this behavioral obstacle? And if so, why are you still so optimistic in light of it?
Your response would be greatly appreciated, as the board's kinda gone listless.
Kind regards,
bobmarley
Greetings mon, and best wishes to you.
I've seen many, many postings (some of which are on this board) where people seem to fervently believe that because cash is king, any settlement will take place by virtue of a stock swap. The speculation seems to be 3-5 Qs for 1 JPM. There's an awful lot of kumbaya-hype around this ... But nobody's addressing this problem: were such a swap to take place, then it would effectively result in WMI being merged into JPM. While WAMU, the bank might very well be reorganized and continue to effectively operate ... WMI will be toast.
But if that were to happen then WMI would be owned by JPM and all of the former WMI execs that participated in the legal proceedings against JPM would be a great risk of losing their new employment. In fact, I'd think that outcome to be absolutely certain; especially in light of the highly disaparaging nature of the bankruptcy counterclaims ("allegations of fraud, illegal conversion", "theft" etc.), as well as the DC proceedings. Moreover, I would think these to be people who have succeeded in climbing very treacherous corporate ladders in the past; and in that regard they would know what's coming. Indeed, they've probably done the same thing to others when WMI acquired companies in the past.
In order for a stock swap to be carried out, these same highly sophisticated people would have to agree to 'walk the plank' as it were, and accept an outcome that would result in their being jettisoned from the ranks of corporate power, influence and wealth. How likely is it that they would go willingly into such a dark predicament? NONE I think. So why has everyone drank the Kool-Aid on the stock swap outcome? There's a BIG-TIME disconnect somewhere here. Or maybe I'm just not understanding something that's very fundamental and very important.
Have you thought about this behavioral obstacle? And if so, why are you still so optimistic in light of it?
Your response would be greatly appreciated, as the board's kinda gone listless.
Kind regards,
bobmarley
Marley:
This is a very speculative play. I dont have new details to share, all I can say is ignore the optimism by those on i-hub -- they really have no life outside of WAMU.
My words of wisdom thus far have simply been this is a lottery ticket worth owning, and that you should sit back and enjoy the show. It ran from .10 - .40+ on nothing but optimism ... if there's that much optimism, it's a stock worth being in IMO. I foolishly didnt sell any at .40, but will take this 2nd chance at buying cheap shares in hopes of flipping for an easy 300% ROI.
No one should convince you one way or the other. Do the DD, and stick with your gut. Dont put in more than you're willing to lose. If you're looking for solid investments, stick with the OTCBB Runner and China Micro-cap threads. Now bust out the popcorn and enjoy the show...
@)
This is a very speculative play. I dont have new details to share, all I can say is ignore the optimism by those on i-hub -- they really have no life outside of WAMU.
My words of wisdom thus far have simply been this is a lottery ticket worth owning, and that you should sit back and enjoy the show. It ran from .10 - .40+ on nothing but optimism ... if there's that much optimism, it's a stock worth being in IMO. I foolishly didnt sell any at .40, but will take this 2nd chance at buying cheap shares in hopes of flipping for an easy 300% ROI.
No one should convince you one way or the other. Do the DD, and stick with your gut. Dont put in more than you're willing to lose. If you're looking for solid investments, stick with the OTCBB Runner and China Micro-cap threads. Now bust out the popcorn and enjoy the show...
@)
Interesting Yahoo post from a seemingly intelligent poster
http://messages.finance.yahoo.com/S...&tid=292114&mid=292114&tof=3&rt=1&frt=2&off=1
http://messages.finance.yahoo.com/S...&tid=292114&mid=292114&tof=3&rt=1&frt=2&off=1
Wamu asks to probe Fed, regulators over collapse
http://www.reuters.com/article/idUSN1524503220091215
http://www.reuters.com/article/idUSN1524503220091215
Still eating my popcorn @)
Bought some more under .10, crazy it got that low again. Who knows what's really going on here. Looking to flip what I bought around .16 and look for another re-entry point after that. Still holding my core shares for the end-game ... things should heat up at the next Omnibus or for-sure at the Omnibus hearings in January.
Can we see another spike to .40?? Plz ohh plz @)
Wow, not sure how I missed this ... guess this is why the KQs and UQs are starting to rally:
Is a WaMu-JPMorgan Settlement Possible?
12/16/09 - 05:40 PM EST
NEW YORK (TheStreet) -- Washington Mutual looks increasingly likely to extract a settlement from JPMorgan Chase(JPM Quote) as the companies battle in court over a disputed $4 billion in cash deposits and several billions in other assets, according to a close observer of the complex case.
Washington Mutual and JPMorgan attorneys have both laid claim to the disputed assets following JPMorgan's acquisition of the failed thrift's assets last year. Senior bonds of Washington Mutual's holding company have rallied from a low of 20 cents on the dollar to the high 90s on the belief that Washington Mutual will recover at least some of that amount. In their latest motion, however, Washington Mutual's attorneys have upped the ante, pointing to documents they say highlight a need to "expand to third parties" an investigation they say the bankruptcy court has authorized into JPMorgan's "alleged malfeasance prior to the seizure and sale of [Washington Mutual]."
And quite a list of third parties it is. Washington Mutual's lawyers want to interview regulators at the FDIC, the Office of Thrift Supervision, the Office of the Comptroller of the Currency, the Federal Reserve, the Treasury Department, the Securities and Exchange Commission, former Treasury Secretary Henry Paulson, ratings agencies Moody's Investors Service (MCO Quote), McGraw Hill Companies' (MHP Quote) unit Standard and Poor's, and companies they say considered buying Washington Mutual, including Banco Santander (STD Quote), Toronto-Dominion Bank (TD Quote), and Wells Fargo (WFC Quote). Among other parties, they also want to interview executives at Goldman Sachs (GS Quote), which advised Washington Mutual on its sale.
Continued here: http://www.thestreet.com/story/1064...rgan-settlement-possible.html?cm_ven=GOOGLEFI
@)
Is a WaMu-JPMorgan Settlement Possible?
12/16/09 - 05:40 PM EST
NEW YORK (TheStreet) -- Washington Mutual looks increasingly likely to extract a settlement from JPMorgan Chase(JPM Quote) as the companies battle in court over a disputed $4 billion in cash deposits and several billions in other assets, according to a close observer of the complex case.
Washington Mutual and JPMorgan attorneys have both laid claim to the disputed assets following JPMorgan's acquisition of the failed thrift's assets last year. Senior bonds of Washington Mutual's holding company have rallied from a low of 20 cents on the dollar to the high 90s on the belief that Washington Mutual will recover at least some of that amount. In their latest motion, however, Washington Mutual's attorneys have upped the ante, pointing to documents they say highlight a need to "expand to third parties" an investigation they say the bankruptcy court has authorized into JPMorgan's "alleged malfeasance prior to the seizure and sale of [Washington Mutual]."
And quite a list of third parties it is. Washington Mutual's lawyers want to interview regulators at the FDIC, the Office of Thrift Supervision, the Office of the Comptroller of the Currency, the Federal Reserve, the Treasury Department, the Securities and Exchange Commission, former Treasury Secretary Henry Paulson, ratings agencies Moody's Investors Service (MCO Quote), McGraw Hill Companies' (MHP Quote) unit Standard and Poor's, and companies they say considered buying Washington Mutual, including Banco Santander (STD Quote), Toronto-Dominion Bank (TD Quote), and Wells Fargo (WFC Quote). Among other parties, they also want to interview executives at Goldman Sachs (GS Quote), which advised Washington Mutual on its sale.
Continued here: http://www.thestreet.com/story/1064...rgan-settlement-possible.html?cm_ven=GOOGLEFI
@)
Unfortunately is goes on to say
"Whatever the outcome of the case, Starke does not believe owners of Washington Mutual's common stock have any hope of recovery, nor does he believe it will have much if any effect on JPMorgan's stock, as the amounts in dispute are relatively minor for the banking giant. Washington Mutual shares have swung wildly[/URL] on heavy volumes at different periods in recent months, on hopes a favorable court ruling will help them recover some value."
What do you make of that? He didn't even say small chance. He essentially said "no hope." He did say common stock though and nothing about preferred.
Yeah, I caught that too. Not sure what to make of it. I'm still (and will remain) 2/3s KQs and 1/3 UQs. Regardless of what he thinks, the Commons will remain volatile and move on good news whether people believe they're worthless or not, it's just how MMs run the market. They create false-hope and allow stocks to run-up just so they can turn around and short the stock back into oblivion.
Pulled some money off the table. 1/2 of KQ's. Not going to have same mistake from 9/21 haha. Won't sell any more below $3. Hoping to re-enter lower later on if this is similar to last time.THMJW just signed the order, the EC motion WILL be heard at tomorrow's Omnibus.
http://www.ghostofwamu.com/documents/08-12229/08-12229-2016.pdf
Game ON!
http://www.ghostofwamu.com/documents/08-12229/08-12229-2016.pdf
Game ON!
