Fannie Mae Preferred S (FNMAS)

[big-yank]

I sold all my Seritage, yesterday before the crash started. Bad call by Buffett on that one. Brucie fell in love with the Sears dinosaur, years ago, and I think he was just infatuated with Lampert's success with Autozone. I used to moderate the SHLD board and got sick of the pom-pom shaking. It is Dead Man Walking,now.

I bet FNMAS and FNMA will continue to dip until some further ruling comes out, but I doubt Berko will sell anytime soon. FNMAS dump, yesterday, was retail traders failing to understand that a setback in court is a step closer to liquidation and a payoff for pfd's. I will buy more at any S/P below $3.