Yes, its a thick trail of clues for all to see. Capmark is also on the pink sheets, under the symbol CPMK and has a market value similar to WMIH. A merger of equals ?! And, coincidentally, the 500M cash that we now have is just right to buy CPMK.
IR managed to bypass my "ignore" by using one of his aliases. I hoped Yahoo would put all the idiots on ignore with one cover, but I have to do all the aliases one by one ?
What kind of people..... wouldn't he be happy enough that PWE price is on the floor ?
Anyway, picked up another 10,000 shares just now. I hope you guys are right about so much misinformation making it a depresed bargain.
While KKR and Citi don't have quite the bribe budget of JPM, they do have enough politicians on their payroll to make that difficult. JPM will pick on bigger banks with less political protection (e.g. Zions Bank in Utah).
There is no warrant. Only KKR have warrants, no one else, and they are not traded. Some people here keep writing about "warrants", but I think they are misusing the term and what they a really referring to is the escrow claim rights, which is probably also not the 100% accurate term. You should have a big profit on your WMIH shares. You should have some escrow rights, but honestly, I really don't know how much these escrow rights are worth as they are not tradable. Maybe zero, maybe something. Only "insiders" know, and they're not talking to me about this.
Now, my humble opinion is that WMIH is worth $10+
But the "market" doesn't always listen to my opinion.
I've been buying and buying and buying.
There are some "rumors" that the merger target is Capmark, which is a bank whose chairman of the board is Gene (yes, our Eugene Davis). They desperately need NOLs because they are selling some real estate they bought ages ago and will have huge capital gains taxes to pay without WMIH's help. The "rumors" say its a "done deal" just waiting for the IRS deadlines to expire to make it formal. I don't know why WMIH is so cheap. Under $4 ?!?! Wow !
As much as I love to see WMIH go through the roof....its 3AM and I need to sleep to enjoy tomorrow.
Good luck to all fellow shareholders.
I thought the debt was under 2 billion. Where did you get 3 billion ?
As of Sept. 2013:
0.1 billion (out of available 1.7 billion revolver) + 2.2 billion bonds = 2.3 B
But asset sales in Q4 reduced by hundreds of millions.
Am I missing something ?
Also, the assets are more like 10 billion, why 2 billion ?
How can anyone pass up such an opportunity ? I added 2,000 more shares to my pile.
And it doesn't hurt that you don't have to pay taxes on the 10% dividend (unless you sell your shares before you die).
AMEN Guru !
When WMIH breaks $10/share (split adjusted, if there are splits), I will donate $100K to Habitat for Humanity's "Homes for Vets" project. Can you believe there are an estimated 62,000 vets with no place to call home in America ? Our government has turned their back on the people that served us, but we will not !
Of course more money coming in. Don't forget we have BILLIONS in tax attributes.
But this it it for this year. Wait till next year. Each purchase will have money coming in for that purchase.