Anyone paying attention to the collapse in LEH

[flytiger]

16:39 LEH Lehman Brothers to offer 3 mln shares of convertible preferred stock (37.64 -0.23) -Update-

The co announces that, in response to investor interest, it intends to offer 3 mln shares of Non-Cumulative Perpetual Convertible Preferred Stock. Lehman Brothers also expects to grant the underwriter for the offering an option to purchase up to 450k additional shares of the Preferred Stock to the extent the underwriter sells more than 3 mln shares of the Preferred Stock in the offering. The proceeds from this offering will be used to bolster the Firm's capital and increase financial flexibility.

 

[ElCubano]

dayummmmm......

 

[1nibbler]

"in response to investor interest".....ROFLMAO


You could fill a ballroom with the hubris.

 

[DennisR]

doesn't it piss you off how many people have insider info.... look at the chart for the day. bastards. i don't have a position in leh, but if i did i'd be pissed.

 

[S2007S]

$36.75, wonder how many thought this was going back to 50+++


Stock is probably worth something under $30 a share.

 

[1nibbler]

I'm short LEH, and I'm not pissed...<grin>...life is far too important to be taken seriously.

 

[flytiger]

Quote from DennisR:

doesn't it piss you off how many people have insider info.... look at the chart for the day. bastards. i don't have a position in leh, but if i did i'd be pissed.

The excuse was, well DennisR, you traded on inside information. You usually buy 100 sh, and you bought 1000.

Now, Super Fund, you bought 50,000 puts, and you normally buy 10, but you make thousands of trades, so it's obvious you would hit these from time to time.

We have a lot of work to do.

 

[DennisR]

Quote from flytiger:

The excuse was, well DennisR, you traded on inside information. You usually buy 100 sh, and you bought 1000.

Now, Super Fund, you bought 50,000 puts, and you normally buy 10, but you make thousands of trades, so it's obvious you would hit these from time to time.

We have a lot of work to do.

I'm not trying to be rude here, but i have no idea what you're trying to say.

 

[1nibbler]

Quote from DennisR:

I'm not trying to be rude here, but i have no idea what you're trying to say.

ROFLMAO.....I was sitting here thinking the exact same thing and wondering if I would look like a total buffoon if I asked for clarification.....too funny...thanks for the guffaw

 

[Mvic]

Quote from DennisR:

I'm not trying to be rude here, but i have no idea what you're trying to say.

Saying that small traders get jumped on by the SEC while the funds get a pass. Stacked deck.