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I've been doing just that this month in a Coverdell ESA account I just opened up for my 5 year old daughter. I've already had a 529 setup and have been contributing to the 529, but the problem with 529 plans is you are limited to a plan's set of mutual funds and bonds.
The Coverdell ESA is a good idea for an investment like GSE preferred; more potential bang for the buck. You can still contribute up to $2000 for 2012 until April 15th, then I think the max contribution lowers to $500 for 2013. So now is the time to do it if you haven't already.
I sure wish I was thinking about this in September... So far, I have socked away a few shares of FMCCT and FMCCH, will buy some more of a good cheap $50 preferred soon.
We are and have been seeing a move up. Steady and slow is good. Cheer up, I had one of those days too. Look at all of the charts for each preferred security carefully, the move up may be happening.
Buy and Hold.
Well said, right now boring and stability is good. I agree, things will pick up once we get into next month. Its during these lull times to buy shares when no one else is interested.
FNMFO, no need to say anything else...
FNMFO is highly illiquid. Only trades once every couple of moon cycles. Good luck.
FNMFO is highly illiquid. Only trades once every couple of moon cycles. Good luck.
Sure thing,.. a little arbitrage trading. Only thing though is you trade out from high liquidity to low liquidity.
Two 5M share transactions well above the close price in FNMAS.
Somebody may want shares bad.
I'm not surprised with the position of the Heritage, and yes that is where he went. What I find dirty about them is that they seem to always pop their head just about every time the share price of the GSE preferred start to rise. Their agenda is about more than just politics.
Renewed calls to eliminate FNF, these guys seem to always chime in when the share price starts to rise,...and they call this a report.
http://www.heritage.org/research/reports/2013/01/a-housing-market-free-of-fannie-mae-freddie-mac
FMCKO pop,.. I guess the other 25s have some catching up to do, go figure,
So totally agree. Excellent post Europe! Its better than the article. Keep it up.
It's time to fix Fannie Mae and Freddie Mac. Leave comments folks.
http://www.washingtonpost.com/opinions/charles-lane-fix-fannie-mae-and-freddie-mac/2013/01/07/8baa5f12-58ee-11e2-beee-6e38f5215402_story.html
I found this, I'm sure there are other sources to back it up.
http://www.sutherland.com/files/Publication/cf27dc7d-6646-42f5-9624-e37dce758535/Presentation/PublicationAttachment/da43b482-3bbd-4e98-b2f5-d7f409aab1fc/fifthamend.pdf
Page 7.
"B. Statute of Limitations
The applicable statute of limitations for filing suit in the Court of Federal Claims is six years. 28
U.S.C. § 2501 (“[e]very claim of which the United States Court of Federal Claims has jurisdiction shall
be barred unless the petition thereon is filed within six years after such claim first accrues”). The sixyear
limitation is an express limitation on the Tucker Act’s waiver of sovereign immunity. Franconia
Associates v. United States, 240 F.3d 1358, 1362 (Fed. Cir. 2001) (quoting Hart v. United States, 910
F.2d 815, 817 (Fed. Cir. 1990)). In Hopland Band of Pomo Indians v. United States, 855 F.2d 1573,
1576-77 (Fed. Cir. 1988), the Federal Circuit observed that the six-year limitations period for actions
against the United States “is a jurisdictional requirement attached by Congress” that must be strictly
construed."
This is a positive development, but guys, we still have a ways to go, err, I think... Anyway, it would be awesome and would mean financial freedom.
I'm up there too...
I recall mentioning the GSEs as a possible investment to a friend over 2 years ago and was laughed at. I never mentioned it to him again. I guess the point here is to discuss investments only with those of similar interests or very close friends/family.
That's exactly what I will be doing...
Interesting thought. Are you inferring that the reduction in the reserve may be possibly due to calling the preferred securities sometime in the future, as the reserve decreases? I'm about half asleep now, so don't scold me if I'm sound stupid. Cheers.
Speaking of a long day... I had one too. My boss (owner of company) who is over 85 has gone completely paranoid. He's now asking each and every employee to email him each and every action they do daily.
Well said Ace. I agree, we can't possibly be squeaky until a taking. Here's to 2013, may we all become more wealthy.
Option A seems to be the most plausible, imo...
If you have a regular job and your company uses ADP, you probably have already seen them playing it safe and already increased everyones taxes this pay period. Perhaps they are trying to make a point.
Now the crooks reach a deal? Talk about waiting until the last minute...geesh.
http://finance.yahoo.com/news/fiscal-cliff-deal-reached-between-021550375.html
Like I said, when it comes to themselves they have no problem giving themselves a raise.
http://news.yahoo.com/house-wont-vote-midnight-cliff-deal-211949556--politics.html
Did he mention giving Congress and the VP a raise a few days ago. We can trust the crooks to take care of themselves, now can't we...
MStech, Thanks. It seems to me its more productive and smart to predict the outcome here, rather than trying to direct the message for one's self interest. Cheers!
AIG launches Ad Campaign
http://finance.yahoo.com/news/aig-launch-ad-campaign-thanking-141900202.html
Will Freddie Mac and Fannie Mae be thanking the government one day?
Nice AIG Ad, its running all over the Yahoo website. We are next. Hope you guys have all the shares you want...
http://www.youtube.com/aig
Yes, I believe the common will be highly diluted and a massive reverse split may be implemented at some point, just like with AIG. After a reverse split will be the time to buy common.
Where have you been? This is old news from August 17th. We all know this looking forward, the focus is now on paying back the Net investment.
Interesting,.. change the GSE charter.
"Such a move would require congressional authorization to temporarily change the charters of Fannie Mae and Freddie Mac, according to the Journal."
http://www.reuters.com/article/2012/12/26/mortgagerefinance-usgovt-idUSL1E8NQ2Z920121226?feedType=RSS&feedName=financialsSector&rpc=43
We have discussed this a lot already. Please look up old posts.
Most institutes don't provide services anymore for opening an ESA Coverdell account. Vanguard does not, however, TDAmeritrade does provide services to open an ESA Coverdell Account. Note, the account would have to be opened today or tomorrow then wire or transfer funds to buy some preferred shares for your child by December 31st.
Yea, I have a 529 plan for my daughter. Too bad 529 plan providers can't offer a brokerage option so you can buy your own stocks, mutual funds, or ETFs. If they did, I would move money in the plan into some GSE preferred securities.
Anyone know of a 529 plan that offers a brokerage option?
You too, looking forward to a good 2013. Cheers!
Yeah, it's a bummer. But,... if they did go over the cliff, just for a little bit, couldn't it force them to unlock our value to generate short term revenue.
"I think housing is going to continue to improve," says Mark Zandi, chief economist at Moody's Analytics. "So for the next 3 or 4 years we will see better home sales, more housing construction and higher house prices. All of which is good news for the economic recovery."
http://finance.yahoo.com/blogs/daily-ticker/housing-recovery-legs-another-2-4-years-mark-124858964.html
That's good news, things just keep improving. The annual report should be very good.