Nothing wrong with being a vulture.
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Alias Born | 01/27/2012 |
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Here's the uncut version of my analysis of the Capuano bill that MAY be coming.
Ok. That's pretty good.
The actual lyrics are a not G-rated.
"They wanna ban us on Capitol Hill
Cause its die muthaf--s, die muthaf--s still"
This is what Capuano's new bill HR1036 does to the SPSPA with Treasury.
I have moved my bid up to 4.45.
I will continue to add to it there.
Choccake,
You met with Capuano's people in January right? What's the deal with them? I think Capuano may have reintroduced his bill about allowing the GSEs to pay back Treasury. I think the original bill called for a 5% rate of interest. So, that would mean that the payback is done.
#Yellen, $QQQ 5000, FHFA talks with $GS, Gov't on 'Thin Ice' with $AIG $FNMA #FannieGate
https://www.youtube.com/watch?v=tAWENtNNxkY&feature=youtu.be&a
I am walking my bid up to $4.30 and placing additional shares there.
You DON'T OWN IMPHO and that is a fact. You just stated it.
When you post things like "IMO, you don't understand X"
I believe you are showing your true colors.
I fully understand how liquidation rights work and your not going to go away. You will continue to troll this board and reiterate your position.
The PROBLEM is that that you don't have a position in this stock do you?
If you are so certain that IMPHP is a winner vs IMPHO, then I encourage you to short IMPHO and buy IMPHP. Then, post that position publicly.
I am not hostile towards IMPHP holders. I actually think they will do quite well. I am hostile towards you and your behavior. I've known you for several years now and know how you work. You antagonize people by posting the half truth and trolling message boards of stocks that you claim not to own.
You intentionally make statements and ask questions that are meant to provoke people into disagreements. Why did you choose to moderate this board if you are not holding this stock?
I am not investing for the lawsuit outcome.
Even if the IMPHP shareholders lose, I think the IMPHP and IMPHO shares are undervalued. They have $25 liquidation preference and voting rights.
Regardless of what Joe Stocks is trying to say, that is a value driver. They have value in the long-run, if the company survives.
Liquidation rights give preferred stockholders the book value of the company. Maybe I need to state this over and over for you.
Here's an ironic scenario.
They fail to raise the debt ceiling, the United States gets a downgrade, the bond market rallies as investors try to find a safe haven, interest rates dive, and Fannie and Freddie book insane derivative losses that wipe out their capital.
When's the next debt ceiling debate going to happen? Fannie's 10K indicated that the PSPA may not support these companies in a period like this.
Nasdaq 5000, #FannieGate and Bitcoin
https://www.youtube.com/watch?v=mVL5BKcqudQ&edit=vd
FNMA FMCC FMCKJ FNMAS
I guess new common stockholders won't care about the answer to the question "does liquidation rank matter?"
I am sure they will buy the common shares blindly, not caring about the actual book value of those shares. Why? Because according to Joe Stocks, book value is not important. Liquidation value is not important according to him.
Here's a short primer on book value for you. I am pretty sure it's covered in Finance 101 at most community colleges.
http://thismatter.com/money/stocks/valuation/book-liquidation-value-q-ratio.htm
Fannie Mae Hit by Derivative Losses $FNMA
On Friday, Fannie Mae (FNMA) reported net income of $1.3 billion for the 4th quarter of 2014.
http://simsonfinance.tumblr.com/post/111659423314/fannie-mae-hit-by-derivative-losses-fnma
FMCC FNMA
Have a great weekend!
I did not invest for a lawsuit. I invested because I saw value. To me the value proposition is simple. $25 preferred stock for a cheap price.
I think we need to look at the big picture here. People on this board are long IMPHO and some are long IMPHP. We can't seem to agree on the legal rights of the preferred. I think we would all argue that we have legal rights to equity that trump the common stock's rights.
The fact that these rights are now "muddy" indicates that the company is going to be locked out of the capital markets until these issues are resolved.
In my opinion resolution is finding the common ground. $25 liquidation preference is a place to start. The shares also have voting rights. So, the company has to make an offer that is not going to destroy value.
The trial date for the IMPHP suit is August, I think. So, we have a a really short timeline to a resolution. That is very bullish. (FOR both preferred).
I still don't understand why the preferred have not recovered to pre-Lamberth ruling levels. The common have popped back to $3. What's going on here?
Please excuse my self promotion.
I have a little less than 100 shares on the bid right now from GSE preferred arbitrage profits. I hope to keep stacking shares there.
Five star post. Thank you....
I think the acquisition of cash call will eventually lead to recognition of the DTA. And dividends will be resumed.
We have to see what happens. DTA is huge. If they activate it, there is no reason to hold back.
This is a response to this post.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110960595
I think IMPHP and IMPHO have value. I think IMPHO has a greater return possibility due to the discount that it receives in the market. I like both, but I hold IMPHO. That's my response.
"Can you explain why you are so much against IMPHP?"
I am not against and will reply on the IMPHP board.
What will we do if Freddie Mac reports a loss in the future?
Time to RETAIN CAPITAL!
Fannie and Freddie are running with excessive leverage.
The next time someone brings up IMPHP, I will respond on that board.
IMPHO is a $25 liquidation preference preferred with voting rights.
In order for the company to move forward, they must restructure the balance sheet. This includes removing legacy liabilities that are default.
Historical models show that a company has a limited set of tools to do this. I will be sure to record a YouTube video explaining each of these tools for the board.
I guess I will apply to be the moderator here.
Where is Joe Stocks? I thought this was his board.
Everything that Impac has done in the past six months points toward eventual DTA activation.
Cash Call doubled originations and we still don't know the full impact of the Macquarie deal.
The Cash Call should double their origination volume.
Summary
Bill Ackman says time is on the side of investors, as the “truth” will prevail.
NY Times raises a banner for shareholders by questioning Obama’s veil of secrecy.
Common shares could eventually reach a full valuation when the companies recapitalize through earnings.
One thing shareholders of Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) ask themselves on a daily basis is whether the system works. Does the court system protect citizens from illegal acts? Does the legislative process fix injustices? Can the truth be revealed when President Obama’s Treasury hides behind the veil of presidential privilege?
These questions take time to answer, but many shareholders believe the answer is ‘yes’ to all three. They’ve patiently waited as $225 billion of equity capital have been removed from the balance sheets of their companies and sent to Treasury for general deficit reduction. This has become the most profitable bailout of any system in the history of the world, but the resulting cash payments have also created an untenable and delicate position for the companies, as they operate without sufficient capital.
In an interview with Bloomberg, Bill Ackman recently said,
"Fannie and Freddie are the - collectively, the largest financial institutions in the world, right. They’ve got almost $6 trillion of outstanding obligations.
Embarrassingly, they are also the least well capitalized financial institution in the world, right. If you think of them as one institution, they have no capital.”
On whether the government can eventually fix this problem, Ackman added,
"The government is not one unified body. It’s a series of people. There are a lot of very intelligent people who work in the Senate and in the Congress. And a, you know, I think that ultimately, truth prevails. That’s been my experience as an investor and my experience in life. And we need to recapitalize Fannie and Freddie."
more
http://simsonfinance.tumblr.com/post/111274433639/fannie-and-freddie-ultimately-the-truth-will
http://investorsunite.org/discussion/topic/fannie-and-freddie-ultimately-the-truth-will-prevail/
VIDEO
Loan Loss Only Part of Financial Crisis Story – Calabria
http://investorsunite.org/discussion/topic/loan-loss-only-part-of-financial-crisis-story-calabria/
FNMA FMCC FNMAS FMCKJ
IMPHO up 95 cents this morning.
Is this just buying activity or is there news?
Perfect. Here's my video on the common stock valuation.
If you guys are going to copy and paste, at least click the link a few times so I can buy some Peanut Butter and Jelly Sandwiches.
http://seekingalpha.com/article/2904456-fannie-and-freddie-congress-established-rules-in-2008
Warrants will be valid in my opinion until the companies pay more than a 10% accrued dividend amount. (IRR of the Sr Preferred hit 10.01% or more)
Otherwise, the warrants are excessively dilutive, but valid.
I think the government could issue the warrants with a strike to exit their position faster, but I have been called a crack pot for that idea.