the price is the price is the price
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$3 stop loss triggered, time to exit FNMAS
Larry Dawson from TN? One of Tim Pagliara's minions?
nobody can afford to hold that long, 50 cents here we come.
Pershing Square will be gone by then too!
This hail mary is a wounded duck. Doug Flutie would not be proud.
Anybody got any other lottery picks? I need a big score!
Not 1 dollar of bailout has been paid back according to management, accountants, lawyers, and FHFA.
Rubbers are rad!
Fannie buys crap home loans and US taxpayer guarantees they pay.
Ben Rickert is shorting fannie it is a ponzi scheme
Dr Michael Burry I Want My Money
No way these companies ever leave conswervatirship
Sell sell sell
Shares will be traded on Ebay after OTC delisting
so did every bank taken over by the FDIC
fannie had negative capital and was in a death spiral
it is stil in a spiral without the US taxpayer guarantee
Earnings are negative, look at the 10Q and 10K
So, with a PE multiple, the value of the shares is negative
It is fair to say that the current value is negative. Since you will receive no value in the future, and you are paying a cost of capital to carry the position, the value is in fact negative. Just ask anyone who has purchased shares over the last 3 years; they continue to lose money.
Trading must be halted. This is a shame that retail is caught up in this disaster.
My lawyers are writing a letter to fhfa recommending that trading be halted in these securities since they have no voting or earnings rights anymore.
There is no reason that this charade should continue for retail investors. Duped
full nationalization of fannie announced last night
get a lowball appraisal on your house, and if the appraisal is lower than the value of your mortgage, Fannie will pay to lower to mortgage balance.
This is a Bernie Sanders utopia!
full nationalization of fannie announced last night
get a lowball appraisal on your house, and if the appraisal is lower than the value of your mortgage, Fannie will pay to lower to mortgage balance.
This is a Bernie Sanders utopia!
Short SHLD to hedge Berkowitz Liquidation Risk
Berk's biggest position is the biggest dog in the market. Just losing billions each year. It was supposed to be a real estate play, but they have done little to sell RE despite low interest rates.
Fairholme may liquidate soon, so I would short an equal dollar amount of SHLD with your long FNMAS. As long as it isn't too big a position, don't worry about it.
Short SHLD to hedge Berkowitz Liquidation Risk
Berk's biggest position is the biggest dog in the market. Just losing billions each year. It was supposed to be a real estate play, but they have done little to sell RE despite low interest rates.
Fairholme may liquidate soon, so I would short an equal dollar amount of SHLD with your long FNMAS. As long as it isn't too big a position, don't worry about it.
Herbalife breaking out to new highs. Buy HLF to hedge all of your Fannie losses and Ackman liquidation risk.
Atleast Herbalife trades at 10 times earnings and doesn't give all of it's money to taxpayers. Seems like a good investment.
Pershing Square's Fannie Fiasco Delusion is Over and so is this "Investment"
Investors should unite and take their capital losses before it is too late.
$1 billion is not free money that never has to be paid back.
pershing bond holders are first in line, and they can probably take Bill's $200 million apartment if they want.
Leverage? He has a $1+ billion bond outstanding
Ackman uses leverage, he is lying and everyone knows it.
Expect SEC to censure him for his big lie.
His average price on Fannie common is $2.50 and his losses are hitting him on the Total Return Swaps.
Expect a sell down to a more manageable position.
Pershing Square cant pay for losses on total return swaps this quarter end
Therefore, hedging firm will be selling their holdings. I think it is around 40 million common shares.
Pershing may also sell fannie and freddie in order to make the payment.
I expect him to move down to a 5 to 10% ownership.
Total selling pressure on common shares of 340 million shares of FNMA and FMCC.
Pershing Square cant pay for losses on total return swaps this quarter end
Therefore, hedging firm will be selling their holdings. I think it is around 40 million common shares.
Pershing may also sell fannie and freddie in order to make the payment.
I expect him to move down to a 5 to 10% ownership.
Total selling pressure on common shares of 340 million shares of FNMA and FMCC.
When FNM goes to 0 Ackman/Berko will still be billionaires, but we'll be bankrupt
We should sue them for misleading us just like we're suing Deloitte for not giving us better investment advice.
This is the Bernie Sanders revolution. I want everybody else to pay for my mistakes!
Ackman is going under and so are we!
Let's find a new activist campaign to get involved in?
I'm thinking a break-up of Citi or AIG?
I'm definitely not getting involved in Sears with Berkowitz! What a lemon! Have any of you been to a Kmart recently? Scary!
zerohedge recommends shorting fannie and freddie as Ackman liquidates to meet margin call
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/03/15/20160315_VRX2.jpg
zerohedge recommends shorting fannie and freddie
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/03/15/20160315_VRX2.jpg
Commoners are advised to sell. Cocoa Cake was right.
Ackman is probably liquidating Pershing Square and his Fannie and Freddie Holdings
A matter of when, not if.
Not sure how he will manage to sell 400 million shares. Some type of pay in kind to Pershing s/h is your best hope, but they will sell it like a boulder in a pond.
I'm just sayin.
Ackman is probably liquidating Pershing Square and his Fannie and Freddie Holdings
A matter of when, not if.
Not sure how he will manage to sell 400 million shares. Some type of pay in kind to Pershing s/h is your best hope, but they will sell it like a boulder in a pond.
I'm just sayin.
fair to say there will be some Aubrey McC incidents when these are released from conservatorship into Chapter 7
There is a cartel of mean day traders that conspire to keep the price down below the $40 fair value!
They manipulate so they can buy cheap shares at $0.001!
bottom of the bag is wet and bottom falling out
nothing to catch us but zero
it's okay we'll get Deloitte to pay for our Losses!
Somebody's gonna pay my bills and it aint gonna be me!
This is Obama's America baby!
when plaintiffs disclose they've been daytrading the stock it will be very funny. will never get that far. seems to be dialing for dollars hoping to extort money from Deloitte. Maybe they will send off a few dollars in order to limit publicity, but I doubt it. hope for their sake that lawyer is working 100% on contingency. this thing reads like something off the Onion, haha.
meritless lawsuit vs auditor - did plaintiff not read MD&A?
http://www.sec.gov/Archives/edgar/data/310522/000031052216000453/fanniemae201510k.htm#s6D37D7C31D3957F2994A305F73847D42
CONSERVATORSHIP AND TREASURY AGREEMENTS
Conservatorship
On September 6, 2008, the Director of FHFA appointed FHFA as our conservator, pursuant to authority provided by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the 2008 Reform Act (together, the “GSE Act”). The conservatorship is a statutory process designed to preserve and conserve our assets and property and put the company in a sound and solvent condition.
The conservatorship has no specified termination date and there continues to be significant uncertainty regarding the future of our company, including how long the company will continue to exist in its current form, the extent of our role in the market, how long we will be in conservatorship, what form we will have and what ownership interest, if any, our current common and preferred stockholders will hold in us after the conservatorship is terminated, and whether we will continue to exist following conservatorship. For more information on the risks to our business relating to the conservatorship and uncertainties regarding the future of our company and business, as well as the adverse effects of the conservatorship on the rights of holders of our common and preferred stock, see “Risk Factors.”
Management of the Company during Conservatorship
Upon its appointment, the conservator immediately succeeded to (1) all rights, titles, powers and privileges of Fannie Mae, and of any shareholder, officer or director of Fannie Mae with respect to Fannie Mae and its assets, and (2) title to the books, records and assets of any other legal custodian of Fannie Mae. The conservator subsequently delegated specified authorities to our Board of Directors and delegated to management the authority to conduct our day-to-day operations. In connection with its delegation of authority, FHFA has instructed the Board to oversee that management consult with and obtain the written approval of the conservator before taking action in any of the areas described in “Directors, Executive Officers and Corporate Governance—Corporate Governance—Conservatorship and Delegation of Authority to Board of Directors.” FHFA’s instructions also require the company to notify FHFA of planned changes in business processes or operations, so that FHFA may participate in decision-making as FHFA determines appropriate. The conservator retains the authority to amend or withdraw its delegations at any time.
Glen please explain why pfds in Quagmire?
common rally is probably a small portfolio mgr banging up month-end so they can pad performance & keep their investors from liquidating. takes little volume to manipulate the price & make performance look better.
The bank of america story is being used as pump and dump fodder imo. I actually don't think a retention of capital at the GSE level would help common s/h at all. it is obvious to anybody that knows the situation, but a new investor might take the bait on the pump.
just my opinion
U never want to use a gtc open stop loss. Guaranteed to get hit. Its called gunning the stops. A lot of program trades are constantly searching for the natural stop loss points or have access to the full trade book and gun the stops to earn a living