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Not an attack on you. It's just that there's a ton of misinformation in this board and I wanted to state the reported facts as we know them. That, and I didn't want Carl - through misinformation - to jump ahead of my spot in the list of largest shareholders of FnF.
Marsha Blackburn, Rep from TN, up next on CNBC. Doubt she says anything about FnF, but we might get some Trump info/scoop.
Carl Icahn does not own 50 million common shares of FnF -- unless he's bought more, but that hasn't been reported at least. What Icahn owns (I'm assuming he still does) is about 12.5 common million shares of FnF. If memory serves, I believe Icahn bought those shares at around $4 per share from Bruce Berkowitz, possibly through swaps. Icahn had/has about $50 million tied up in FnF investments to my knowledge. Probably similar to the average Joe having $50 tied up in FnF investments.
Yes, we have averaged 9.8% gains daily - over the past seven market days - since Trump won.
It amazes me that Gas-mouth-parino has the job he does or any job for that matter. He's about as dumb as a box of rocks and, to be on TV, he speaks like he has a bunch of rocks in his mouth half the time.
The only reason he keeps saying receivership is because he's to dumb to have the word conservatorship in his vocabulary. You can kind of tell, it's the only word that comes to mind when he starts speaking, as each time he has spoken about FnF (in the last few years) he's used the term receivership. A wordsmith he ain't. But hey, at least he's got that 'I'll beat your ass if you disagree with me' thing going for him on twitter....which is nice.
Yep, just think of it as watching Christmas lights a little early. 'Tis the season!
Rick, you do realize everyone here knows we hit 2.80 two minutes before you "predicted" we'll hit 2.80, right?
Are we having FUN yet?
First, I agree Ackman's comments on CNBC were very positive, but I don't think they are the reason for the volume surge in the closing hour yesterday. Ackman's interview started after the closing bell. Now, could he have told a few powerful friends he was going to make those comments ahead of time and they acted on it before the close? Possibly, I guess.
Keep an eye on the volume/price action over the next few weeks. If it mimics what happened in late Sept. to early Nov. '13 then there's a very good chance you have another major player or two taking a large stake in FnF commons. If that happens chances are that player is or is very close to at least one of the following....Trump, Ackman, Berkowitz, Icahn, or any of the other usual suspects tied to Trump that may play a role in how the gov't handles FnF moving forward.
IDK, he's a bit crusty and kneady for my taste. But still, we all know which side his sourdough bread is buttered on.
Nice work Cmdr....I heard that. Liked Mr. Thompsons answer as well.
The USCA-DC heard 308 cases between Sept '15 to May '16 (during it's annual session). As of today 303 of those cases have had opinions released. We (Perry) are one of only 5 cases yet to have an opinion released. So, logic says it should be soon.
CORRECT!!! Watch the video interview (in the link) with Katia Porzecanski of Bloomberg - who broke the story. She had communications with Perry Capital and she states he will not be selling his pfrd FnF shares until the law suit is complete. End of story!!!
Speculators not wanting to miss out on a good court opinion release maybe? I believe this could be a small pattern on Monday/Thursday afternoons, but haven't verified.
With that said, let's hope Ginsberg or Brown are writing the opinion and Millet is on board with them and the plaintiffs!
While we all hope this is true, I find it extremely coincidental that DC Bob posted one comment right about the time the USCA-DC releases it's opinions (Tuesday by 11am) and then this latest one this afternoon before a scheduled opinion release tomorrow. Like many, I don't trust the FAKE Tim Howard site (and some of it's commenters) one bit.
I just want to make sure everyone knows this clip is around three years old. I love the message, but I wanted to make sure everyone knew it and the other stuff Sammy Boy recently posted isn't even close to being current.
Come on CADC, Sweeney and Sleete.
Carry on.
Maybe they're getting their ducks in a row in case Lamberth's decision is reversed soon by Brown, Ginsberg and Millet in the Appeals Court. Who knows really...
You are correct in stating the obvious, when there's a buy there's a sell, but what you fail to mention is the same thing was true when Ackman took his 115M FNMA share position in 2013. There was buying and selling going on over those two months, but the pps still went from $1.30 to $3.50. If we were to see the same kind of buy and hold pressure as we did when Ackman took his position the pps would most likely increase as well....which is what I stated.
Stansberry’s Investment Advisory is said to have over 500,000 subscribers. Do the math. If only 5% of those paid subscribers follow the BUY recommendation that's 25,000 investors. If those investors are willing to pay for an investment subscription then they're most likely willing to bet larger sums than the average person. If each of the 25,000 individuals buys 5,000 common shares we're looking at 125M shares or close to what Ackman bought over a two month period back in the fall of 2013. The stock price went from around $1.25 to close to $3.50 during that run.
Now, I'm not saying the exact same thing is going to happen, but, based on that scenario it's possible we could see a nice run. Also, consider if something like this plays out, Ackman already has 10% of the float locked up, something that wasn't the case during his purchase run up.
Again, this is not a recommendation, just food for thought.
Correct Rdy2go. The two 200 share trades took place at...
9:36:52 200 @ 0.001
9:37:52 200 @ 0.001
I saw nothing about 23.13K shares traded on my screens.
Yep. There are so many facts (puzzle pieces) in this crazy GSE saga that's it's hard for even the most informed (like Rosner) to restate them all correctly.
FYI, as I stated yesterday, the Perry appeal case will not be streamed LIVE. The link for The DC Court of Appeals (DCCA) that some are posting is not the same court as U.S. Court of Appeals for the D.C. Circuit, which is where the case is being heard. The audio file for the 9:30am hearing will be up after 2pm today on the courts website.
U.S. Court of Appeals for the D.C. Circuit posted oral arguments
No problem. Let's hope so.
Sorry for any confusion, but I should've said "audio only" webcast. I would think the audio should work fine on a mobile device. Some follow up on protected info may be in camera (in private) when the proceeding is complete.
Thanks Cmdr. I spoke with the court clerk a few days ago and the OAs for Perry start at 9:30am. They will not be webcast live, but should be available on the site by 2pm the same day.
I'm sure courtroom 31 will full of various types of spectators and some insight as to how things went should start to leak out, through social media, around 10:30am after the OAs are over.
Does anyone have a current RSI(14)?
TIA
Yes, if there is strong buying to get us thru 2.10 then it should sail to 2.20 pretty easily imo.
Interesting, she stated in her depo something to the effect that she took a more cautious and conservative approach to her CFO analysis and views during her time there, as compared to her predecessors.
But I'm sure you've already read that. So, I can understand how you would try to undermine her testimony....
She got $120.00 for her depo, what more do you want. As she said..."now I can retire". :)
Seriously doubt it, but wouldn't hurt my feelings.
Nice move on News today. Hoping we can close above $1.83.
It wasn't the low income/poor homeowner that caused the crisis in the first place. It was the jumbo PLSs that the upper class cashed out on that caused it. Bethany McLean has shown the data that proves it. It was the John Carney types, with their privileged upbringing that did most of the damage between 2003-2006.
I have no problem with FnF giving the small group of low income folks still under water by a large margin a small amount of principle reduction. We are talking about a very narrow group of low income and low mortgage amount individuals that were taken advantage of by predatory lenders. Those are the folks protesting Watt not the John Caney types of the world.
Probably could be done for less than 2% of FnF annual revenues.
I can confirm...same here Cmdr.
Thanks Cmdr. Did you get a chance to listen to the FNMA conf. call this am? I did not. Anyone have any info on comments made or Q&A insight?
TIA
Sounds like -1 cent is a vast improvement over the 2014 year end of -72 cents. On the contrary, things are looking dramatically up from the prior year 2014!
Thanks for pointed that out to us.
Cmdr, thanks for your continued efforts with Judge Steele. Great work.
FYI, you probably already know this, but comments A, B & C are all comments from the esteemed Peter A. Chapman, CEO of Beard Group, Inc., and Bankruptcy Creditors' Service, Inc. They were first posted on GSELinks.com. All Glen B. has been doing is copying and pasting from GSELinks to his blog and removing the "Peter Chapman writes" portion of the copy. I can only guess he does this so he can benefit from someone else's work?
I'm not saying Glen isn't helping fight the fight, but much of what he does seems to be self promoting. Like the eBook "he wrote". It appears to be almost 100% copied and pasted legal docs and charts created by others compiled in an eBook form that he is trying to charge folks for, all while promoting himself as somewhat of a FnF/GSE reform expert.
Any-who, thanks again for the great work.
Thanks for the article BaGr. I hope RBS settles soon. I have always felt once the last of the 18 FHFA lawsuits is completed things could start to move in our direction. Hopefully we'll see if I'm right soon enough...
I'll take that. BTW, I wouldn't be surprised if there's another tax motivated swap after the bell today or later this week.
Yes, FMNA had a T trade..... 16:17:50 19,400,900 shares @ $1.65 (yes, that's 19.4009 million shares in one trade)
FMCC had similar.
John, please provide a creditable source for your statement. IF you can't or won't, please don't make it.
TIA