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off the hub
Please don't be nasty; your other contributions have been so exemplary.
Do you know if the figures in question include having treasury exercise it's warrants?
Agree. If I've learned nothing else holding these since '09-'10 it's that volatility is guaranteed. Don't fight it, use it.
I've been such a fool ;)
Good one!
Agree- the link is so illogical I think it better to treat them as separate entities and move in/out of them independently.
IF the cycles align correctly you can take advantage, otherwise not.
Clear your cache/cookies?
When the common moves opposite the prefs I take notice. Commons are being walked down IMO; I'm layering into small trading positions.
It's a full-package financial advisory service offered by lots of big banks. Typical FA stuff- they look at your assets, your liabilities, your long terms goals, and then tell you you need to be in this/that/the other thing.
One area they can probably really help is in tax planning, but as for the rest, I've been most successful as an investor (and to be honest, least successful as well ;) ) when I called my own shots.
Really I just found the line very very humorous.
"Depending on your actions I may be in need of your wealth management services."
Outstanding.
This time...
for sure....
I'm going to sell the rip.
I'm thinking Capuano needs to buy a round for Corker, Warner, Hensarling, and the BigO hisself.
Wow, that's huge!
Or he's willing to trade credibility for a posh position somewhere nice.
C: Flapping forked tongue means nothing (as usual)
What's your point? This is an 18 month old document by a smart guy who's not in a decision-making role. It's a proposal, one way forward, and one that incidentally doesn't say anything about existing equity (common or preferred) at all. (Search the linked-to pdf for share, shareholder, common, and preferred; you won't quite come up hitless but very near).
Your analysis is badly flawed; we've seen this before.
There is no (credible) evidence anywhere that equates the common stocks FMCC and FMNA to any of the preferred shares.
Apparently the invisible hand doesn't like this.
You said 'Dell' twice, but yes- outstanding logic.
Well, if that's your only basis for comparison then I can't argue with your conclusion other than to point out that there are other salient features between the issues which may cause their values to diverge significantly.
But hey, buy what appeals to you.
In the same boat means what in this context- same value? Very doubtful, though I don't expect reason to change your perspective ever.
If nothing else the high-profile lawsuits serve notice that there is money in the shareholder faction that's willing to fight. You don't have losses, I'd have to say I don't either, but the closure of FnF without compensation to the current shareholders would generate losses for us and others and, likely, additional lawsuits.
Here's to hoping that will give the regulators pause...
Biiig news: Restructuring ahead?
Hi all,
Never posted on this board since I usually read the Yahooboard for ACAS, which is where this tidbit came from. Check the 40-APP/A filing from ACAS on 15 August:
ACAS 40-APP/A
"B. Proposed Funds to be Managed by AC LLC Subsidiaries
As noted above, the Company has evolved into a global alternative asset manager and in connection with these operations, the Company has proposed that it be permitted to manage additional assets through its continued ownership of AC Energy, ACEIGP, AC Debt, ACE3GP and ACEM3. These newly formed subsidiaries of AC LLC were created in an effort to grow the Company’s assets under management and to include in its assets under management both additional broadly syndicated loans and investments in CLO securities and global energy and infrastructure assets, such as power generation facilities, power distribution and transmission networks, energy transportation assets and fuel production opportunities.
AC Energy and ACEIGP are proposed to advise a private fund that would invest in global energy and infrastructure assets. The Company will not be a co-investor with the fund proposed to be managed by AC Energy and ACEIGP, but, as part of the fund’s initial closing, the Company expects to acquire approximately $200 million.
The Company also proposes that AC Debt advise a publicly traded, closed-end investment company that will elect to be regulated as a business development company under the 1940 Act (“Debt BDC”). Debt BDC is expected to invest primarily in Leveraged Loans and CLOs. As part of Debt BDC’s initial public offering, the Company will acquire shares of Debt BDC’s common stock at the initial public offering price in a private placement, subject to the limitations under Section 12(d)(1) of the 1940 Act. The Company will be contractually limited in its ability to dispose of these shares for a period of time to be determined.
ACEM3 and ACE3GP are proposed to advise a private equity fund that would acquire equity interests currently held by the Company in certain of the Company’s existing portfolio companies and would also include a commitment for future equity investments. As with the creation of ACE I and ACE II, the sale of the Company’s existing portfolio companies to the private fund would be negotiated in an arms-length transaction with unaffiliated third parties that will hold limited partnership interests in the private fund. The Company will invest in the fund with regards to its commitment for future equity investments. Such co-investments will be on a set percentage and consistent across all such investments. In addition, the Company may elect to be a minority investor in the fund with regards to its investment in existing portfolio companies. " (emphasis added)
GLTAL!
Thanks for the download; sober thoughts indeed.
I'm with you, BH; given the high-profile cases already tendered what use is a single or small multi-person suit?
Can't I just let Perry Capital send Olsen in there to kick some ass and then take advantage of his precedent?
georgenips' documents:
Conservatorship with all changes
Conservatorship with updates
Please let me know if there are download issues.
I doubt we could stick in longer posts, but if you want to send me a document I can put it on the web and then place a link here as a sticky?
porter (underscore) t (underscore) dog at hotmail dot com
Here it is from page 1:
Fanny Earnings Call Transcript
ECole found this.
Did not realize. Made me feel a little dumb!
Old, and the President's words were such that they are subject to multiple interpretations.
I say: It was written that way on purpose so as to avoid actually taking a stand.
New Maloni blog, courtesy of BetaH via the googleboard.
An excellent read, as ever.
Maloni: Treat them Equally!
I don't think he cited anything by name, but made (typical) broad proclamations full of fluffy nonsense that would be able to be interpreted in the future as having been in support of whatever the eventual outcome was.
It's good work if you can get it.
Strong hand of the Enemy, IMO. Powerful forces hope to get the MBS business over the long term, and those forces are aligned with the overseers of mainstream media.
It may not work, but a) you can't blame them for trying, and b) you can't deny the reality of it.
The latest evidence is the whole "FnF are masking losses! Their results will be impacted by the IG's latest inquiry!" meme.
See the latest Maloni blog (and comments) for more. Disclosure: I am Qualified Observer
Maloni: Keep them working for us!
Believe me I thought about nuking it but the iHub definition of spam really doesn't seem to include this type post so I let it be. Just ignore it; it'll go away.
Also have a look at IGK if you're looking for income stream; even thru '08/'09 they never suspended the div.
I'd buy AGNCP* over anything NLY have on offer; AGNC is at the top of that particular heap IMO.
(and did, in fact...)
Nah, you're reading too much into what I wrote. Was just a little gentle ribbing is all; apologies if my intent was misconstrued. TBH there's not been a lot of traffic here lately, so reading your diatribe* was actually pretty entertaining; the Euro perspective was certainly interesting.
*Definition of DIATRIBE
1
archaic : a prolonged discourse
2
: a bitter and abusive speech or piece of writing
3
: ironic or satirical criticism
Case three, which I meant in a completely non-pejorative sense.
Do they not have .pdfs of your statements available?
If not, a) that sux, and b) you should consider changing brokers.
"I may take you around with me as a prop someplace."
I b'leve I'd enjoy punching him square in the throat.
The best part:
"There is no need to do away with Fannie and Freddie, save the Conservatives’ desire to produce a scalp to wave around and satisfy some bizarre partisan political bloodlust. "
Bravo!
Thanks for the links, CBS! Excellent reading.