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I thought everyone posting here heard voices? "Buy the common... buy the common". Only reason to invest in common, right?
Joke ;)
FFF, wasn't implying it would -- I was assuming that the capital rule coming out might have induced buying of prefs
Why has it not induced buying common? Maybe the groups who follow the news don;t think the common is not investable? I don't know lol
lol, that is one of the reasons I don't go to Yahoo - let the squirrels and the nuts alone
lol, I starte a small position in FNMA and FMCC $25 prefs... something seems to be up so I dipped my toe
Does anyone think the capital rule content may have leaked?
Or are folks just lining up for the rule release, and/or SCOTUS ruling, and/or because FnF look to be navigating the crisis very well?
Is November soon?
FD, Calabria said late May, then ACG said "possibly June"... the latter stuck in my mind cos (i) how do they know and (ii) how long does Calabria need?
So, 3-4 weeks -- but maybe Calabria surprises us by doing something before the date he said. first time for everything LOL
TRCPA, now now, lol
I do like AIG, tho waiting for a lower buyin price, think it goes to $50
lol, reading Tim Howard's summary of the results -- I spent the morning at the oral surgeon getting a post hammered into my jaw -- was pretty encouraging. FNMA looks to be in good shape...
Good to see the health of the operation at FNMA in a huge crisis
BUT the issue lies with Treasury and possibly FHFA.
BTW We now know why pref jumped yesterday, someone has a backdoor to FNMA results apparently...
Lol, keeping your cash and miss a profit, you still got your cash... and can invest another day and make dollars
Throwing your cash in a dodgy investment and lose your capital - you are DONE.
Hedging risk in pref would make most sense... but, no, that needs “reprogramming”
Good luck!
I agree SCOTUS is watching but that is what worries me. They won’t do things on other cases with huge multi-billion implications for FnF imho - at least that is my fear.
I hope to be surprised but I am out since the market sentiment is so dangerous. Like a riverboat casino over at StockTwits - but the Uncle Warren all but cried BS... nothing at a good price to buy he said... I know who I am going with
SCOTUS won’t rock the boat in a crisis and I am not waiting on them, too dangerous...
Just my guess - let the peanut gallery fire away... no golf, so what else can they do?
That was on a motion to dismiss. Sweeney is completely unconstrained by those comments when confronted with evidence - from BOTH sides - if this ever went to trial
I understand the need to be hopeful, but there is a reason big corporations never go to trial -- anything can happen. Ask Hank Greenberg, and AIG, and Greenberg had much better lawyers than FnF plaintiffs...
Certainly a jump, would not say it was big -- but, yes, I notice too that prefs moved up a notch... Maybe someone building a position and/or others have stopped selling...
Cannot see any news
Laughable...
Hi Facts, yes, maybe we get some movement. I am not buying common till more details emerge, but I might buy pref if we get good price. I may also come back in just before the election in Nov.
Right now, the polls have swung so far that the Senate now looks like it could go Democratic, so if Republicans want to shape FnF they better do it this year -- Democratic President with both houses Democratic could enact a very different reform (or none at all...)
Volatile indeed... I don't think the timeline goes to February, when a new Dem President is sworn in mid January, then Calabria is gone. Calabria can sue etc., but any actions would presumably be reversible or stayed.
I think a lot of groups will now be lobbying to remove Calabria, not just Dem's out for blood (and they are very, very angry...).
So, I think a Treasury negotiation, consent decree, SPSA amendment, all has to happen before Xmas basically.
THEN you may expect a welter of legal and administrative challenges to that consent decree... Not sure whether it is investable or not with regard to consent decree
SO one wonders how much recovery Lamberth or Sweeney or Collins (I forget the judge's name there since she in cryogenic storage) will deliver pref holders
Compared to this shitshow, I think I will stick to picking over wreckage on the Big Boards -- unless the price gets compelling
The capital rule can only be a negative - crazy capital requirements or never appears, stuff tanks. It appears, ok but so much still needs to happen
Federal judges, SCOTUS included, know when judgements have multi-billion dollar implications. I don’t see them ruling in a way that hurts government in FnF cases. I just don’t
Trump is on the ropes right now - down 4-5 points in crucial states. I do not see them risking anything with FnF before the election to make things worse
So I think it all comes down to whether they act between Nov 5 and Jan 2021 - as Trump’s election prospects get clearer (and his defeat imminent) a couple of months before the election then the FnF securities may decline - that might be the time for the gamble
I sold out again last week, I may wait for August or September, tho if pref hits $4 I would buy
Not a recco
Yank, thank you for the reply. I sold out of FNMA pref again this week since I think a leg down is coming. I held NRZ, CHMI and CIM from lower levels but sold those this week - I like NRZ and CIM a lot, but I think there is a chance everything drops so I am in cash.
I will look at UNT ty
You are correct, I did not see the rest of the ACG material. One wonders if Market Watch plays games like Bloomberg. Best potty
Presumably explained likliehood of JPS conversion... got to keep that secret from the rubes
Did you ever buy any ET? I have bought and sold, but I am too afraid to buy right now since we are heading for a second leg down in markets, love DCP and CEQP too
I don't see why you are nixing ACG, they had two comments that lacked context -- looked to me like they butchered a longer, proper interview...
Why is this a big deal? There are loads of Mreits focused on agency loans?
Foxhole time - markets just switched to downside...
I would help you out, but it would be fake new so I won't bother :(
Why do you refer to yourself as the "tin man"? Curious
Curious to see whether common trades down on that possibility or not...
Glad to hear it, I don't trash in the world either -- just be serious about the capital rule and prospects of common without RnR... back to pounding dirt outside federal court
You may be, but I love you!
Glossy, agree totally, GSE's performing great in the calamity -- when dust settles in summer and people look back, then FnF showed they can weather storms with the better loans they are backing... Would support RnR narrative and eventually attract new capital.. whether in new pref or new common
...or working on JPS conversion...
Well, if it does not come out in May, then it is all over with regard to making this water-tight after a change in administration -- rule realized in late May, then 60 day review, then revisions, takes us to August. Has to be out bout then or reviewable by the Democratic congress newly installed and slaughtering every Trump move and appointee they legally can euthanize...
So, no capital rule in May, and the RnR jig in up, then it is back to pref relying on what the courts bring -- and common eat grass
My return was always going to be good for a loss on the common -- disappointed it is only 5 cents
Hi stinkie, I have rejoined the Legion of the Damned -- bought back a little pref yesterday...
Reporting losses, or provisions for them, is spooking folks I think...
lol, not getting cheaper? I sold my $50 prefs at $11 and $12, they dipped fairly recently to $8-9 and now back to $10ish. I just bought FNMAT for $5.50, it used to be $8 a few months ago
When I last owned the common, I sold out at $3 (I had bought at around $1 at Xmas 2018), now $1.70.. so that is cheaper too.
I am back in half cash in my account, I think we re going to see another panic when the grim nature of the economic data hits... I may buy more pref on that drop.
I am back in here, tho with a small position, cos I think the general market has gone too high again. I sold all my MLP's yesterday on the massive runup...
Amen, will be interesting to see if the capital rule comes out in May... or is "delayed" still further. That would be ring the bell on RnR if it does not.
So Calabria will have a choice in May, be interesting what decisions he goes with
But I will gave four times the amount of common stock by buying pref than if I had bought common direct... just saying
The law is not unconstitutional, the way the administration’s interpreted it, and acted on it, were unconstitutional - though no court has yet to make any such ruling. And probably won’t
Just get another SPSA amendment, agreement with plaintiffs including JPS conversion, then release under consent decree
Then we will all be common holders
HERA is an act of Congress, just so you know...
In black and white - wish people here would read it closely... ty
Well, I am not sure I disagree, I will trade this if I get the chance -- my mistake before was not doing that enough... Then I can still make a profit even if inertia wins
Yeah, I said I would not buy back in till Fall, but I opened a starter position in the pref just in case SCOTUS does the right thing
(But I think Federal judges keep n eye open for implications for billion dollr caes, so I think SCOTUS does nothing in Seilia Law with big implications for FnF. BUT pref is relatively cheap, nd I have cash again, so I started a position...)