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PIMCO Income Strategy Fund II Message Board

  • friendlytrader friendlytrader Aug 6, 2012 6:50 PM Flag


    TO ALL pfl & pfn holders.
    I AM A HOLDER OF both PFL & PFN.---I have read the various posts and NOTE that there were NO POSTS from late May till August 1st.---Then on Aug. 1st up one--down 2 started posting very negative posts about PFN AND PFL.---I also noted that there was a post telling shareholders to VOTE thier proxy for a new director called Goldman.---This director was proposed by BRIGAND FUNDS. Up one--down 2 seemed top know all about Brigand and a supposed "lawsuit".
    If there is such a "lawsuit" I have NOT noticed or seen any mention of it on this board or in the news flashes. Starting abt. 8-1-12 we saw many posts by posters I have not seen on this board. I AM SUSPICIOUS!! This is very unusual. I have not ever seen Up 1--Down 2 post here before.---Because of the above I decided to look into just who "Brigand" is and where they came from.--I will now have to put the rest of this post in another post to follow.

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    • Up-1 Dn 2----I am NOT quarling with your statement that Brigade has filed on a 13d form---However, as I SAID, There is a SEC filing on a FORM 4. Maybe erroneous---Maybe a mistake--Signed by Mr. Morgan---You may NOT like having found it as a I stated, BUT IT IS THERE.---Are we NOT to believe a SEC filing?--Obviously you do NOT want to admit YOUR error in denying the existance of the FORM 4 FILING but IT IS THERE FOR ALL TO SEE. Believe me, YOU are still human--You too can be mistaken on occasion. You are NOT infallable. As I said in my last post,let's drop this childish discussion. As far as I am concerned this matter is closed and I will NOT respond to any future posts.

    • Another clue to the misadventures of friendlytrader... is not the SEC. And AGAIN - Form4's are only for corporate individuals. Form 13's are for funds.

      Are you the type that just can't admit an error and will go to any extent even if it means digging a deeper hole ? It's not that big of a deal.

      Here is a little help for you. This is the ONLY document that matters. The rest are nonsense.

    • TO uP-1 dN 2---PLEASE!!!--I did not get the info from Yahoo.--I did pull up a copy of the Form 4 filed with the SEC--That form may have been filed in error by Brigade or its' atty. I have no way of knowing. However, the form , as filed, stated the number of shares "Purchased" and the "Price"--That price shown was $88. Mistake--Maybe!--Wrong Form--Maybe--BUT IT IS AS I STATED.--Before you say anymore, PLEASE pull up the record and see for yourself ( If you do look I know you will see the form to which I referred. --As I recall the form was signed by or for a Mr. Morgan?---Then let's drop it there.

    • "Frankly I do not see the accusations of which you complain."

      You can't be serious ? You write a Subject title 'Rumors and Fakers' then fully pepper it with my id ? Not to speak of the direct accusations like "It is obvious Up-1-down-2 is NOT on our side." How I can't interpret that as accusatory is beyond me ?

      This is the problem with using the Yahoo links/data for research. They are wrong more than right. Brigade is basically a hedge fund. They don't file a Form4, that is for insiders, directors or officers of the company. Brigade files 13D's not 4's. The SEC 13D filed for the 10/19 & 10/21 purchases does state $88 but that is incorrect. Whether or not it was a typo or translation error on the html upload who knows. What does matter is the 13D/A (Amended) states the correct purchase - at 88% of Par or $22,000 per share.

      What is silly about your perpetual argument with the $88 is if true, that would be a catastrophic situation.

      Allianz would owe Brigade $40.4M for a $142K investment ? It's becoming clearer to see why you are having such a tough time grasping what is going on here.

      Instead of arguing ask some questions for what you don't understand.

    • To up 1- down 2--
      Thank you for the friendly social response.
      Frankly I do not see the accusations of which you complain.
      Regarding the posts, please note I made corrections as I found the need and posted them. That was only fair.
      Regarding the "facts", the price quoted was and IS the price stated in the SEC Form 4 under "Auction Rate Preferred Shares"---"Securities Acquired"--10-19 & 10-21-10--Price $88.00--Take a look. Form 4 signed by Ronald Morgan for Brigade.
      You are correct, there is a lawsuit pending--Brigade sought and was granted Summary Judgment in the lower court. This judgment was stayed on appeal on the ground that it is UNLIKELY that Brigade will prevail on appeal.
      If, as you say, Goldman won the proxy battle for a seat on the Board the suit may be moot or settled as I think a timely election for the Board was/is one of the issues in the suit.

    • You went on for 5 straight posts about 'Brigand Funds'. You can't even get the name straight more less understand what is really happening here.

      As far as 'on our side', there is NO side. There is only the truth. Anyone investing money should perform their own Due Diligence and seek the FACTS from the SEC filed documents.

      You are a real piece of work. You throw accusations my way as I state the FACTS while you organize a prayer session. Wishing, hoping and praying these TRUE events are not occurring will not change the FACTS.

      Go ahead and jump on the friendly bandwagon and when your capital shrinks below your costs basis I'll be back to say I told you so.

      What is so ridiculous is you have absolutely no clue what is happening here. NOBODY and I mean NOBODY bought ARP's for $88 of PFN or PFL. Go back and read this post if you don't understand what is going on.

    • If you look at the Certified Shareholders report dated 1/31/2012 (available on, filing date 3/29/2012), you will see the Brigade lawsuit referenced in note 8 to the financial statements on page 48.

    • FOLLOW UP TO THE ABOVE.---I decided to look into just who & what "Brigand" is. I found from SEC filings that "Brigand Funds" is apparently a fund located and operating out of THE CAYMAN ISLANDS. This is very convenient because they are then NOT REGULATED BY THE SEC.----They can and apparently do say ANYTHING.---I found that on or abt. 3/10/11 Brigand did file with the SEC a Form4 showing that they then held 1037 of the Auction Rate Pfd. shares of PFL and 1619 of the Auction rate Pfd. shares of PFN. That is the TOTAL stated to be held at that time. There do nOT appear to be any other purchases sonce. Thier most recent purchase was for $88.00 per share for both PFN & PFL. Thier total investment appears to be about $231,000 for BOTH issues.
      I suspect that someone is floating unfounded rumors about PFL & PFN. They probably have a "game plan" of some kind. I will have to continue after dinner as my wife is calling.--I will be back

      • 1 Reply to friendlytrader
      • follow up to above.: The current posts by up 1 down 2 are clearly bearish; detailing the disasterous consequences of holding PFL &/or PFN. HE/SHE has told us, in no uncertain terms, that if & when a Mr. Goldman is elected to the Board of PFN he/she will demand that the funds buy back the Auction Rated Pfd. shares previously issued and that this will seriously reduce the liquidity of the fund. In his last post he/she is absolutely JOYUS in his announcement of the election of Mr./Ms. Goldman to the Board. I also note that there are many more posts which seem to extoll the conclusions reached by Up-1 down-2. It is obvious Up-1-down-2 is NOT on our side.--I will continue and conclude in the following post.

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