España
Que casualidad cuando bajan las Wamu viajas por carretera o no te pronuncias como mas veces se ha producido. Hay que estar a las verdes y a las maduras majete. Tienes al personal harto de esperar que llegue el Milagro de los Panes y Peces para estas acciones y que puedan los maltrechos al menos recuperar lo perdido.
Míratelo... Lo tuyo es muy serio.
Las verdades duelen. Ya esta bien leerte solo cuando sube la accion pero cuando baja enmudeces y colocas tus famosos post de copy paste para justificar que algun dia subirá. Asi tienes a la parroquia en la ruina, esperando scrows e indemnizaciones que nunca llegan.
Anda que si por una bajada del 3% te pones así los días q subimos te deben salir ronchas del berrinche no??
Madrecita me das pena.
Tu si que das pena que has llevado a la ruina a unos cuantos del foro y te pasas el tiempo posteando chorradas para justificarte.
WMIH PPS has surely moved up from its lows. Or, has it??? The PPS sitting below .50 a share, or a market cap of under 100mm, placed the value of WMIH at what many would consider below liquidation value. When you look back at the estimated value of WMIH based on what noteholders could do a debt exchange upon BK emergence ($10mm for 5% of WMIH or about $1 per share) or even Rosen's submitted conservative value (did not look up exact number, but it was between $120-140mm I believe), you would come up with PPS of at least .60 per share.
So, did it make sense for WMIH PPS to get taken down to the mid .40 area? Think about it. WMIH could be liquidated and likely get shareholders at least .60 per share. That is based on about 70mm cash on hand and a sale of WMMRC generating another 50mm in cash (conservatively.) Looking more closely, WMMRC has huge loss reserves that will surely create even greater value over time. Plus, WMIH still has around 6b in NOLs that should have some inherent value even if there is not any current profits to make use of them.
Now, the PPS sits at around .80 per share. Was the PPS brought down to the .40s and taken back up here to try to suck in sellers? In other words, did "they" push down the PPS to create the illusion that WMIH does NOT have much value and by taking PPS up to current prices hope to get retail to sell their shares as they take it back down from here. Sure looks like a smart idea to sell here when it looks like it is possible that WMIH will be taken back down to .50 area. Is this what "they" are hoping to accomplish?
Of course, maybe "they" were trying to suck in buyers now. Bringing up PPS has created the illusion that a deal is imminent that will surely lead to a much higher PPS. "They" want you to buy in now (by shorting shares to you) before it is too late only to take PPS back down and try to shake out those shares later after they have nice gains from what they shorted. This seems less plausible because retail longs already know that WMIH valuation had been pushed lower that liquidation value and lower prices are much more likely to stir up buying interest and not selling interest.
Anyway, I sense that the PPS movement has been an attempt to push out retail by creating the mindset that this is a chance to get some recovery (almost double what you could have gotten just a couple of months ago.) We may even see PPS head back to .60 range trying to shake out more retail as they worry about WMIH going even lower. I think "they" will ultimately realize that retail longs are not going to sell until PPS rises substantially higher than where it is now. Shoot, even preferred holders that were converted to WMIH shares are only looking at about 2% recovery (from par) with WMIH PPS at $1. That 2% is likely still less than what many paid for those preferred holdings. As for commons, WMIH PPS at $1 is a LOOONNNNGGG way from any kind of recovery.
Well, are you so sure that those NOLs are going to be difficult to monetize. Think about it. We know that AAOC controlling the debtor's estate tried very hard to stop the waterfall at Piers throughtout the BK proceedings. No matter what money the estate found, it found a way to show that there was no money for equity. We know that AAOC also owned TPS and P and surely K preferred shares and they were willing to take a hit on those holdings to get the remaining estate with their Piers holdings. We also know that this same greedy group even tried to prevent retail Piers from getting any of the estate as well.
If WMIH estate was not really worth anything, then why did they want it? Now wait a second. Didn't they try to suppress information of those NOLs by trying to make it appear that they surely had almost no value. It turns out that there are 6b in unrestricted NOLs that do not start to expire until 2030. Do you not think that they already knew this long ago?
Wad, AAOC knew what they were getting and they surely had some kind of plan to make use of NEWCO for themselves that would have been worth much more than what they gave up on their Piers shortfall and loss on their preferred holdings. As far as we can tell, it was not WMMRC that they wanted other than it may have been a necessity to have a viable entity to carry forward those NOLs. I will stand by my belief that WMIH has more value than WMMRC and cash that was generated from the settlement between EC and AAOC. Again, I remind you that the EC settled with AAOC which resulted in equity getting a piece of WMIH. I strongly believe they did not settle for preferred holders to get a 1-2% recovery versus a 0-1% recovery. I also strongly believe that they did not settle to get common shareholders 1-2 cents a share for those precious releases. Without those releases, we may have seen a major lawsuit against the debtor and anyone else that hindered equity's ability to get a recovery including all the big players.
I would have sold my preferred shares back in the mid $20s or what would amount to $1.25 a WMIH share if i did not think that there was more there. I have discussed many times how I believe those NOLs can be utilized through some kind of acquisition(s). How much time it takes is anyone's guess, but I continue to believe that $3-4 is very possible over time. Would like to see much more, but first need to see how things start developing to see if that is plausible.
1) TPSC came onboard at the last minute after EC depositions. One of those HFs owns over 7% in WMIH shares from the conversion. Since no one else filed their ownership positions stating they were over the 4.75%, then we know they are the major WMIH holders. And ... they are tight enough with the other TPSC holders to have jointly fought for value for their holdings. I don't see them as "silent" shareholders considering the fight they put up in DE BK court!! I don't see them not looking for ways to monetize the NOLs even though they were not included in the original PIERS plan. Anyone who thinks they crawled off into silence is foolish!! Those guys are fighters and I'd hate to be in their line of fire if they thought nothing was happening for them to have some recovery!!
2) The NOLs value was determined by BK lawyers/accountants and basically sanctioned by the auditors because that was what they were given. However, we've not seen anything filed or received from IRS on the NOLs value. Most likely won't until we see a business plan/capital raise/M&A notice that recognizes it. There's much speculation it could be higher. That's to be seen.
3) (I know I said 2 .. but) Saw this remark by someone else so I can't claim ownership but I think it's a very wise question: Why would MW and BOD issue themselves shares for their bonuses unless they expected them to have future worth!! Why bother??