Feel Sorry For Longs Who Held AAMRQ Until the END Because ...
There never was a straight answer for the AAMRQ to AAL conversion rate. After all, this was a BK stock and there are no promises or someone you can complain to if you don't get the $15 per AAMRQ share that was the best guess (or wishful thinking) on this board.
When I recommended everyone to sell (when shares were still above $12) before AAMRQ ceased trading, I was accused of being paid by a hedge fund, etc.
I hope I am wrong what I think will happen next, but good luck to you folks at the 30, 60, 90, 120 day marks.
Having never been in a BK stock before I was nervous and sold between 12.30 and 13. I got in at bottom and never had a stock with this much value I needed to get out and diversify my holdings. AAMRQ was a life changer for me. But I agree it would suck had I not sold but this is the risk with BK stock. that's the market some win some don't. I don't remember anyone feeling sorry for me when I lost on other holdings.
I am a LONG. I bought my first 300K+ shares at ~$2.40 in August. I added another 100K+ on the way up. I am LONG and very glad that I did not sell at $12.30. First, I would have been eaten alive by Obama's new tax rates. Second, I would have missed out on the ~20% unrealized appreciation that I already have in my valuation, and I would not have the upside still left in this stock in 2014. My plan is to cover (approx. 90% of the value of) my position with puts as soon as the conversion period is complete and sell in August to reap a LIFE CHANGING gain and only pay long term capital gains. PLEASE DO NOT FEEL SORRY FOR US LONGS. Because I am long and will stay long for most of 2014, I will be retiring when my youngest graduates HS in 2 years. THE LONGS ARE COMING OUT AHEAD, AND MAN DOES IT FEEL GREAT!!!! GO LONGS!