The trick being that (I think) shareholders are last on the list to be paid under Chapter 11 and that share price drops to $0.00. So, 20,000 shares at $0.00 equals....

That's correct. During Chapter 11, equity stock is basically worthless. I found out the hard way too. I bought $4k of stock during a company IPO, when *all* the 'independant' merchant bank analysts covering the stock rated it at a 'strong buy'. We were also given some stock options at the IPO price. Surprise, surprise, the price sank from day 1, and was never worth it's IPO price again. From an IPO price of $11, it sank to under $1, did a 5x reverse split to get back to about $4, but kept going down. Finally Chapter 11 ensued, and the stock now sits at about 7 cents. Split adjusted, that's going from $11 to 1.2 cents.

Strangely enough, I now have no confidence in 'independant' analysts. I also have very little confidence in the stock market in general. Given the large number of accounting 'discrepancies' that keep cropping up, I'd have more faith in making a return on investment if I gave my local beggar $4k.

I'm fully aware that 'stock values may go down as well as up', but when 'independant' analysts who are 'professionals' and highly paid to give 'accurate' independant analyses manage to get it so wrong, I can't help but feel that the stock market is little more than an arena for legalised robbery.

And what's with this week? The DJ is up 8% on the week, it's biggest weekly gain in over 20 years. I don't understand.