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I was wondering that too... It's hard to tell. I hope someone is not dumping big.
I'm guessing they will be released in early March...
I wondered about this months ago, when FNMAT started leading. I really don't think it will be redeemed in May.
FNMAT is a $25 preferred. Just a guess, but someone has been accumulating this one since early August. Its not as closely monitored as FNMAS or FMCKJ. Shshsh...
This reminds me of May 2nd. This may be a signal, enjoy the ride...
Did somebody buy or dump?
Aren't we in Conservatorship, not Receivership...
Nice. They have been down graded.
5 Stars here too. Completely agree.
You better open up a Coverdell ESA soon. You still can contribute for 2012. The thing is, the gains will all be tax free, and unlike with a 529 you can take the money out anytime for education, daycare, and after school care , all before college. The rules for the Coverdell are loose. With the 529 you can only use the money for college.
If your child is young like mine, there is time.
That's what I recently started for my almost 6 year old daughter. I'm just buying the cheapest $50 preferred I might see for the day, when I buy. The bulk of her college savings is in a 529, but what the heck, I have plenty of time on my hand to put a little aside into GSE preferred in a Coverdell ESA.
Why? Why tell us?
That sums it up quite well. Just sit back and relax.
Can you post the full article, some of us don't subscribe... That's exactly what mbers said.
And what about FMCKM, FMCKO, & FNMAT..., what's is with the prices discrepancy relative to FMCKJ, FNMAS, and the other $25s?
Agreed. Time will heal the GSEs.
That's good, Bass needs to keep quiet about the GSEs.
Classic..., wife and realtor bully husband to buy more house than they really should...
Yep, not your average investor buys that kind of stock...
It's a long weekend guys, watch for any news. Cheers!
Is Bass speaking about FNF or just in general?
What is he going to talk about? It seems like just about everytime he speaks up about the GSEs we tank. He needs to keep his mouth shut.
True enough,but a little is OK. I agree, put the bulk of a kids savings into the 529.
Note, not every brokerage firm offers Coverdell ESA plans anymore. Vanguard has phased them out (said they have become un-popular), but TDAmeritrade overs the Coverdell ESA. I don't know about Fidelity or others.
Opening the account is a piece of cake.
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...