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Navycom, do you have the current short interest in fmcc and fnma? You were posting that not to far back.
Thanks
This is why MC, SM and Trump probably strategically went high on the cap rule. They fore-saw the Democrats coordinating an attack to beat it down.
It could also be that Bove was helping someone with deeper pockets to screw over the little guys over time?...Just saying.
It's why I said, let these jps holders put their faith in folks like analysts, hedge fund guru's, and places like Wedbush at their own peril. Hedge fund billionaires didnt get billions by providing groups of investors outside of their funds information and guidance on how to get rich on a stock. Analysts and their companies work for the highest bidder, proven back during the dot com bubble.
You forgot the hollyweird crowd who thinks they know more and try to dictate to everyone else how they should live.
Biden and Karmala will be advocating once again to allow minorities making 30k to buy 300k+ houses, because identity politics and their racism claims of equality dictates that it be allowed. Watch.
GSE's will go through another 2008 if these two get in.
Oh yeah, garbage mortgages galore. My wife was an underwriter/supervisor for a smaller mortgage company for years just prior to 2008 melt down, she was responsible for looking over the loans and comparing to what was required at the time and packaging together individual loans to sell off. She was part of the problem. Always showing me and introducing me to the unbelievable people who were qualifying for mortgages, folks with 80k credit card debt buying 200k houses and also asking for a mrtgage of 250k (50k over value) .
Tons did not even qualify for the mortgages because of LTV and so little down, yet they were approved, and then you had those who were getting the loans that were over the value of the house, the cash outs. Then many just walked later dropping the keys at the bank or mortgage finance place. The company my wife worked for went out of business, needless to say and rightfully it should have, but not before screwing up many people's financial history and their employees futures.
My wife, after we divorced, could not find work in the mortgage industry due to her previous employer being part of the problem. Part of why I divorced her was because of what I saw as moraless lending that was destroying people financially, while her and her company profited big time. I tried for years to get her to leave the industry but the bonus$$$ was too much of an enticement. The millionaires running the smaller mortgage outfits made certain employees feel like superstars because they were making these owners way more than the bonus money, so obviously they paid for all kinds of perks for an employee while doing business for the company..
One example. My wife was sent to a mortgage bankers like convention in Palm beach, she was allowed to take me. It was 4 days all expenses paid at the BREAKERS hotel. If you've ever been there, it's a very expensive place and area. This was just for this lender's fair mortgage bankers to get together and splurge basically! I knew when this was going on and seeing all the people there that were part of this big money malfeasance, that something bad was going to end up happening. It's why I pushed my wife to leave, but she would not leave "being a star"and 30-40k bonus checks 1 or 2 times a year.
So, I am well versed and studied in what caused the 2008 housing crisis, and when you dig down, you find it is all because of the government messing where they shouldn't with mandates and special laws.
Sorry such a long thread. I'm still miffed about how all this transpired.
Agree, GSE's have worked as they were intended too. The only thing that screwed them up was the DC political establishment. Turning them into a punching bag for both sides since the 80's. Government now a days, are really good at screwing up what should be the simplest laws.
The GSE's have proven not once, but twice now they can bail the housing market out. Last time in 2008 it could have been done with no conservatorship. By today, the GSE's would have been able to handle this covid episode also, if they would have been allowed to function as they were intended to - NO GOVERNMENT INTERVENTION picking winners and losers in home purchasing.
The reason why they'll never do anything better than the existing GSE'S is because of what I've been saying to folks I talk to about it. The people who created the twins in Congress and Senate were far smarter way back then, more knowledgeable and WORKED TOGETHER BIPARTISANLY to bring about these two special companies. The current gang in DC couldn't find their azz from a hole in the ground, and this goes double for the liberals and radical left.
That's been proven! Receivership works out best for commons. Government would be hung out to dry though. Obama found this out during his pursuit to try and kill the GSE's. Even his liberal business supporters were telling him worst idea in the world. Just like Bush administration, the Obama admin could not figure out how to hand over to their lobbiest base
You could dump money down the toilet and buy a preffered share that has no volume, no dividend, no direct claims, noncummulative, that no one has peeped about conversion....
I think I could make more money on penny slots then buying preferred shares.
Golf
I'd much rather be on the 40.10 to Vegas.
That's the one! Could not remember his ranking exactly, might as well be #6000. Lol
Excellent point Rumple! The market does price pretty accurately when there is little uncertainty, listed on a proper exchange, and the larger investment community is involved. We are 0-3, so anyone saying the price is a reflection of the market is not seeing the bigger picture.
Thanks!
I don't put a lot of faith in analysts, but they call Bove the Dean of wall street, supposedly because he's the best. Unlike that #4673 analyst at Wedbush that commons canceled was cheer leading.
Aaaaaaaaaa, nope.
His article in 2017 is a big part of why I feel my assessment of FandF now is so un-bending Hindes drove home the real facts then. I started buying more, larger positions in fnma because of his article. It states beautifully what I've always believed.
There ya go! He's the one, I could not remember his name! That was/is a great article.
Nothing sounds better. Why pay more than the thieves did?
Didn't someone say it was a stick up basically?
The old adage about someone being able to rob you for way more with a pen than a gun is always working well for government 24/7.
All the jps crowd has to do is ask themselves: How were jps and commons treated before conservatorship and during conservatorship so far? 12+ years of same treatment, yet all the sudden jps are special! Lol
EQUAL! No one has received any special treatment other than the companies themselves (derivative treatment). You can bet this is how they exit conservatorship also. Imho
So....then it becomes an active BOD at some point, maybe beholden to fhfa approving or disapproving cap raise. If government allows the companies to really function via release decree, then you have shareholders voting rights re-established. How lucky do jps feel when this comes about and is instituted?
I'm sure commons will vote for your 50:1, or 20:1 or whatever nonsensical conversion ratio you guys have been preaching.
It's more likely jps will be dealt with stringently because of the high interest dividends and the need for the companies to retain and raise capital.
My opinion folks
That's a good question, And also why government needs to be very small presence if released or consent decree. There is no stomach for government involvement in the workings of private truly capitalistic "free" corporations. Those with strong enough stomachs are already here and invested. Which is also why government better keep an eye to fairness.
At this point, that acronym kind of works. I know other commons holders have some positions in the jps shares, I hope they get a fair shake, but not at the expense of commons going to 0.30 like some are saying.
All the jps crowd has to do is ask themselves: How were jps and commons treated before conservatorship and during conservatorship so far? 12+ years of same treatment, yet all the sudden jps are special! Lol
EQUAL! No one has received any special treatment other than the companies themselves (derivative treatment). You can bet this is how they exit conservatorship also. Imho
So....then it becomes an active BOD at some point, maybe beholden to fhfa approving or disapproving cap raise. If government allows the companies to really function via release decree, then you have shareholders voting rights re-established. How lucky do jps feel when this comes about and is instituted?
I'm sure commons will vote for your 50:1, or 20:1 or whatever nonsensical conversion ratio you guys have been preaching.
It's more likely jps will be dealt with stringently because of the high interest dividends and the need for the companies to retain and raise capital.
My opinion folks
Lol
That's about right.
Lol
I should have said PLAN K! Plans A through J have all been useless speculation like the current one.
Never even splurged for a chicken bake! Lol
TRCPA, I do remember that internet bubble like it was yesterday! Very good point about how the tide of dollars will flow back toward the old reliable's after all the money chasing pharma, bio, etc.
Back during that bubble they always referred to it as money flowing back to "brick and mortar companies", if I remember correctly.
I do agree that fhfa and treasury need to be out of the GSE'S business period. I just think Mnuchin wants to pull something with either the warrants or seniors.
I get that they never followed the conservator definition we all know and trust, and I hope SCOTUS can rectify most of what was done underhandedly. This is probably going to be minimal since SCOTUS doesn't like to get to deeply involved with "sorting out" but only ruling.
Just a bad feeling with how they keep pursuing and pushing law suits like they have, and then talking out the other side of their mouth that they want the twins released. Either they are putting on a show to cya themselves from Congress trying to come at them later for saying they were to easy on release, OR there's some ulterior motive to pursuing the court cases ad infinitum like they have.
Thanks for the feed back!
What's PLAN B if no conversion?
Absolutely no one in administration or courts is talking jps conversion.
So if volume goes lower you're okay with that? Doesn't affect anything, correct? Investors should feel warm and fuzzy because buying a low volume preferred is safe and sane?
This even though previous jps positive analysts are swinging negative?
Hookers provide an invaluable service also, but just like jps crowd, at the end of the day it's how much they can make by screwing someone. Or as many as possible.
Someone explain, how does 1,035 volume on fnmas translate to .07 down -.81% ?
Jps better keep their eye on this....
Can you say heavily manipulated? I wonder who?
Thanks for all your good info.! Question:
What would your line of thought be if the government did something like canceling half the warrants and used the other half for a capital raise? They would deem a move like this as preserving and conserving, and some info on here has said at some point there will be some dilution for a capital raise. The current almost 2 billion outstanding shares possibly going to 4, 5 or even 7 billion outstanding after cap raises.
I hope for best case scenario which is minimal dilution, but I am not naive to think there will not be any.
Thanks for your response in advance!
Our "poor house" is going to beat the pants off that yoohoo and ramen you had for dinner in ma's basement!
Ditto on that. Hoping for that 23 to 47 of Ackmans prediction. It's not unreasonable, depending on what disappears, stays, cancels, is ruled for or against, etc
I think higher because we are way bigger.
False!
You posted not too many weeks ago and a few hours ago a zero share price. No proof other than a #4673 analyst at wedbush. You've posted 0.30 due to dilution in the past also. Probably have posted share price predictions from zero up to your current useless blather.
You're like the boy who cred wolf over and over and over and....
Pagliara seeing the light!
Bove seeing the light!
Soon...more and more analysts will be seeing the light.
Read the articles by bankrate, and other bank type news outlets, they get it, have got it for past 12 months.
The jps blind lemming allegiance to the hedge funds is to the hedge funds benefit.
FNMAS today (past weeks): low volume and price swings that do not match or make sense based on the actual volume....No bueno amigos. You are being played by much bigger players, in my opinion.
Have you seen FNMAS volume lately?
See my post on RISKS of LOW VOLUME stock.