You got the right idea. Keep a low profile with your gains. You do what you want to do in terms of investing and buying things and don't rub it in. The only person who knows my true financial position is my 12 year old son. LOL. I tell him to go to the safe at one of my properties and get the letter in there and the key and call my attorney on the business card and the both of them head to my safety deposit box for my insurance policies, copy of my will and log in access to the MOMO club accounts and all my assets and investments....shhhh...under da radar camaro...dat is how we roll......go figure...devil
Spouses are hard, but friends can be arrogant and condescending. After the payout, I'm not going to rub it in, just starting buying on a large scale (reinvest too).
Da Devil can relate too. Da devil when started playing MOMOs told friends and family and was frowned upon. Other dan da goobers at da MOMO club and a handful of friends and da ex wife no one knows abouz da MOMO plays.
I can relate to that. Lots of "friends" think the less of me for buying Freddie preferreds when they actually told me to invest in siri/xm and the like. They're doing well, but we'll do GREAT
April fools day , It would poetic that use "fools" get the lion share of new co stock. I remember when I was called a fool for buying WMI preferred and FNMA FMCC common.
Yeah, I am sure someone already addressed this but the OBS houses the commons and preferreds BUT their econompic entitlement and priorities in structure remains intact....Therefore, preferreds have to be settled before commons sees any money....go figure...devil
All they need is an agreement and sign off and they can announcement with a commencement date later on to execute it. I am just going to sitback..relax...and have a coca cola while we waits....go figure...devil
I will take it. Its all speculation until it happens. Getting shares in newco is not shabby.
That's what I get for getting up in the middle of the night and reading posts. I now notice that the court date to address the restricted stock units and contingent stock awards is April 1 and they have already set the court dates of April 2 and 3 if they need more time. Allocation of these stocks can easily be done by April 4 if necessary (that being a key date as it is within 5 business days of March 30, the next distribution (or reorganization if applicable)
" for the benefit of the former holders of LBHI common and preferred stock consistent with their former relative priority and economic entitlements"
This sentence refers to the priority preferred shares have over common.
CTs will be on par with senior preferred shares. Here's the priority:
CTs and senior preferred shares, then
preferred shares, then
I think they were put into OBS for convenience , prospects are looking better every day. As you see the market is recognizing the value of NOL with WMIH assets in play.
All pfds and common of the old Lehman currently exist in On Big Share, or 'OBS'
This share, which is really just a ledger of how many, and what, each of us owns, sits 'in trust' with LBHI.
If there are new shares of common distributed to everyone. each share is then the same value.
If there are 12 million shares issued, then 1.2 million of them go to the CTs first. 8 to 10 million to pfds, and then the remainder is split amongst the original common.
the share of common received, if that even happens, reflects the priority of one's position as held in the OBS
If conversion happens, they only need one number to run the full conversion, and that is, 'ok, how much have we got left?'