like today--10mm fnmas and 8mm fmckj---way away from mkt. Who on this board can trade these pref's premarket? I cannot thru schwabby.
That seems like some wack daddy assuming to me. I'd assume he paid under 5% face (Average $1.25 on the 25's and 2.50 on the 50's.) which would be pretty easy to build over the last couple years.
He blows his own horn about 2.5 billion worth--and is selling LIKE MAD into the spike at 27-28% of face.
At 5% of face, it's a 20-1 shot, maybe worth the gamble. At 4 to 1? Maybe Nader...buying common. Not Berkowitz.
This money may be dead, maybe not. But it won't take 2 years to see an #$%$ load more action. As for the "only huge blocks" that went through, I don't think anyone can read the volume, ie. huge pre market trades WAY away from the market.