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you are welcome and I consider it a great compliment that the "rocket scientists" on this board think we are same person. really appreciate all your work and thank you again
they are the same company ... cap research is the parent. you are also correct re inaccuracy of numbers. I've posted on this before. there are no reporting requirements for ownership of bulletin board traded shares, exception being share ownership > 5% - ackman for example. American funds, fairholme, etc are mutual funds, not hedge funds/partnerships and they must report individual holders to shareholders each 1/4. for example, you never see Paulson's holdings, discovery's holdings in fnf pref
thx for addl color and isn't it about time to give chapman proper credit for his work
can you pls provide more color
josh angel is a legend in the restructuring/bankruptcy
http://gselinks.com/pdf/Govt_Perfidy_Angel.pdf
yeah, you're right ... they don't let facts confuse them
just curious, can you cite a source for this
Jaret seiberg of Cowen issued bullish report. big flip flop as he has been negative forever
your math also confuses me
at $5 purchase price and expected value of $25 in 5 yrs, that's 80% annual return w/o giving value to expected div stream
I believe the reporting is bad... see Ackerman tweet. I believe nothing has changed re resolve to get these companies out of conservativorship and its about to happen
unless you're a forced seller, there is plenty of liquidity in gse "off the run" pref.
more importantly, though, as long term investor why trade at all? especially in taxable accounts?
???
moelis plan, AS PUBLISHED, does not envision:
- change to present duopoly
- reduced footprint
- govt as guarantor of last resort; govt only stands behind limited LOC
the release before recap fantasy only exists on this board, and fyi, gasparino correct re discussion at morgan gse meeting last week
not orrect. EOM
it happened,
"This person said the general consensus was the capital raise would be good for Fannie and Freddie’s preferred shareholders, who have a higher priority over common shareholders in such a scenario. Common stockholders, however, could be severely diluted with a big stock sale and thus the value of their holdings wouldn’t grow or would possibly decline. Fannie and Freddie common shares currently trade as penny stocks, at $2.70 and $2.60, "
https://www.foxbusiness.com/financials/fannie-freddie-ipo-wall-street.amp?__twitter_impression=true
Subject: Possible Fannie, Freddie IPO whets Wall Street's appetite | Fox Business
https://www.foxbusiness.com/financials/fannie-freddie-ipo-wall-street.amp?__twitter_impression=true
nah', thei minds are made up, don't confuse 'em with facts
according to moelis 1 & 2, conversion at ipo price
moelis meeting. .... jmho, do not underestimate
Subject: Tweet from Charles Gasparino (@CGasparino)
Charles Gasparino (@CGasparino) tweeted at 1:10 PM on Fri, Jun 28, 2019:
SCOOP: @jpmorgan held private meeting Tuesday to discuss coming @WhiteHouse plans for $FNMA $FMCC including privatization, end of conservatorship & possible massive public offering. Meeting included bankers from @Moelis, top stock and bond holders. discussing now @FoxBusiness
(
)SCOOP: @jpmorgan held private meeting Tuesday to discuss coming @WhiteHouse plans for $FNMA $FMCC including privatization, end of conservatorship & possible massive public offering. Meeting included bankers from @Moelis, top stock and bond holders. discussing now @FoxBusiness
— Charles Gasparino (@CGasparino) June 28, 2019
not everyone agrees with you
What We’re Hearing: Waiting for Godot (the GSE Blueprint) / The Authority to Sell a GSE Charter? / An Update from Capital Alpha / Craig Phillips’ Next Gig / Time for loanDepot to Test the Mortgage IPO Waters? / Mark Calabria’s Clout
pmuolo@imfpubs.com
Still no word yet on when the Treasury Department will deliver its Fannie Mae/Freddie Mac reform blueprint to the White House and if and when the plan will get a public release. (One source suggested to us the plan is already at the National Economic Council.) Rest assured, at some point the House Financial Services Committee and Senate Banking Committee will get a draft…
The Federal Housing Finance Agency does not have the legal authority to issue new government-sponsored enterprise charters but one legal source suggested to us the agency has the power to sell (or approve the sale of) a GSE charter. Makes sense…
Capital Alpha Partners midweek issued a report suggesting that if the Treasury Department doesn’t release its blueprint by July 4, the plan could be doomed. Among other things, CAP noted: “The plan has lost momentum within the administration due to former Treasury advisor Craig Phillips’ departure…”
But late Thursday, the consulting firm – after receiving some blowback – issued an update: “Some say a formal public response to the president’s memo directive to explore options might more likely arrive in late July, and that it will be more directional than specific. But any delay should not be interpreted as a function of setbacks or wavering resolve. As for any non-prescriptive flavor to the doc, it will mostly be to preserve the perceived purview of FHFA director Mark Calabria as an independent regulator, not a reflection of disagreement. Calabria is still expected to propose changes to the PSPAs [preferred stock purchase agreements] by 4Q, but could do so earlier (we’re told) if the debt limit is raised….”
One lobbyist who follows the GSEs suggested to us that Phillips, now back in the private sector, might have an investment banking role in a new IPO by Fannie and Freddie…
???
your argument only reinforces reason why they,want pref to convert into common
ummm, not quite accurate
there are no reporting requirements for hedge fund bulletin board positions. investor letters/communications from gp to lp's sometimes reports positions but usually not granular. exception is if fund owns > 5.0% of outstanding common and must file 13d
mutual funds -.anerican funds, fairholme et al - have different reporting requirements and must report to its shareholders via quarterly filings
gary is right
the profits started once the accounting charge-offs were reversed
thank you
if there was ANY credibility to needing $200+ billion prior to public offering, don't you think that would have been in moelis report?
let me see, who would i rather bet on ... bloomberg reporter, raymond james sell slide analyst, or ken moelis/landon parsons et al at moelis
furthermore, if they had $200b, wouldn't need ipo!
and if they really were going to wait until then via retained earnings, bill ackman was right way back at ira sohn where he forecast common > 40
i wish i could buy a drink
thank you again for your time and willingness to share
????
i was answering some other "expert"
curious999 Wednesday, 05/22/19 08:21:00 AM
Re: Potty post# 527911 0
Post # of 528307
WRONG ... ackman not funding wash federal. no one is, law firm is on contingency. this has been prob with this case from beginning.
hate when people post info intentionally to mislead.
Trump has vanadium on critical metals list. Find out why vanadium stocks are flying.
yeah, right
nobody is paying wash federal attorneys.... contingency ... they'll be thrilled to settle
not the same with collins et al
offering will be done at price that clears the market
for those unfamiliar with the term, from wikipedia
"A market-clearing price is the price of a good or service at which quantity supplied is equal to quantity demanded, also called the equilibrium price."
those of you who argue or forecast otherwise only show naïveté or ignorance
kt, thank you again for your time and willingness to share
WRONG ... ackman not funding wash federal. no one is, law firm is on contingency. this has been prob with this case from beginning.
hate when people post info intentionally to mislead.
lots of fnmas is arb
buy the 50s, sell the s
100% correct
trump, mnuchin, phillips, otting, calabria te al ... the adults in the room finally showed up
you're welcome and all good
thx
it was not a public call, only available to clients of wall st research firm that arranged it shortly after lamberth decision but i do have tape for reference
however, just to be clear. i'm 100% pref and still adding - bot more fri based on listening to phillips interview (on vimeo) and possible trump statement (which happened). point is, you shouldn't be so skeptical, there is 0 gain to me from touting possible benefit to common. i am only sharing and pls don't reply back ... don't appreciate your insinuation
ummm, not sure this 100% acuurate re does nothing for common
david thiompson on cc shortly after lamberth decision said it would also result in $ for common
re 2
not going to happen
Calabria specifically said up to gse's themselves NOT fhfa nor treaduuryvto raise the$. another emaybe phillips leaving now to resurface at fannie to do the capital raise?
as the fake timoward717 used to say, bingo
thank you again for all of your sharing
mods ... this shd be stickied or highlighted