the price is the price is the price
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2.28, 2.20, 2.18, 2.17, 2.13, 2.07, cliff
Next week will not be fun, especially if it closes below 2.28 today.
Rates Down, Stocks Up, Fannie Down, Gold up
Just another day as a Fannie Mae investor
Heads u lose, tails u lose
High Volume Sell-Off as Ackman CNBC Speech Fades
Back to test $2 in August, maybe $1.50 by Labor Day
After Pfd Dividends Fannie will report a Loss for 2nd Quarter
Stock should tank as the capital of the company races to zero.
This stock is a black hole sucking all of your money straight to the US Treasury. You might as well just sell your stock and write a check to US Treasury for 100% of the proceeds. Take yourself down to zero net worth and make yourself a ward of the state.
After Pfd Dividends Fannie will report a Loss for 2nd Quarter
Stock should tank as the capital of the company races to zero.
This stock is a black hole sucking all of your money straight to the US Treasury. You might as well just sell your stock and write a check to US Treasury for 100% of the proceeds. Take yourself down to zero net worth and make yourself a ward of the state.
I can't short because there is no bid whatsoever
Oh well
Congrats 2 Fanniegaters 4 trusting Rosner & Kudlow
Start listening to NobodyFromNowhere and start selling.
Holding over weekend after the Hoax PumpNDump
is very foolish imo, gonna be a race to close at 2.45.
Yesterday's Story was a Hoax PumpNDump
by the Fanniegate crowd. Everyone is finally reading and doing some diligence.
Expect a 2.50 close.
Big Swinging Richard Shelby
Anybody notice how great of a time it is to abandon ship?
If you think his bill is bad, wait till you see the one coming out of Illinois - Mark Kirk - supported by Madison Dearborn and friends.
FNMAM down 10%, 1 by 1, they fall
Smart money pfd lead commons down
FMCCI down 18%
Somebody knows something.
Anybody read Mark Kirk's Wind-Down Bill?
He is well funded by the Chicago Private Equity firms Madison Dearborn, GTCR, Thoma Bravo, and William Blair.
Sounds like he is looking to work with Mark Warner. Not sure if anybody has access to Senate staffers. Maybe Frank Fosco?
The Kirk Warner bill. No, not Kurt, Kirk.
Fannie and Freddie don't need to be released from conservatorship or given to private s/h to do what they are already doing.
It wouldn't jump start the economy. If anything, it would cripple the economy. Their cost of capital would increase without an explicit guarantee, and mortage rates would rise, and home values would fall.
It would send the housing market and economy into depression.
The best thing for the economy would be to merge them with FHA and keep them within the Federal Government. Unfortunately, that gives nothing to shareholders.
Brutal Washington Times Article
Seems like 2016 is another lose / lose scenario for shareholders.
If Republicans win, which is most likely, Fannie will never go back to the old days.
If Dems win, Hillary will want to distance herself from bad policies of the past that levered up and bankrupted the poor. Especially distance from the evil Fannie and Freddie that paid executives billions while using the Federal Government's credit rating to run a hedge fund.
It is hard to see how these companies ever exit conservatorship with 5% capital and where current shareholders would receive anything.
If anyone has a scenario where shareholder would get anything, please share?
Ackman's fund trades in Amsterdam
I know, sounds kind of cracked out, but it is legit. Anyone can buy, even Chessmaster.
What % of float is traded in US?
What % of float is traded in Athens?
Since the Athens market continues to be closed, I worry about "price discovery".
Not sure if the price in Athens previously drove the NBG price or other way around.
All things considered, dollar volume traded of NBG is very low.
Hard to know what true price is. I believe Soros is short the shares in Athens. It will be interesting to see if government requires him to cover or if they can control him, etc.
Kudlow "Fannie is the epitome of crony capitalism" and I want them to go far far away. Rosner agreed on the crony capitalism comment.
That was painful to hear, like hearing your friends talk badly about you behind your back, only this time they were talking about you on the radio for the world to hear.
The Smart Way to Buy Fannie/Freddie & Put Faith in Berkowitz/Ackman
Buy FAIRX or Pershing Square Holdings instead of buying Fannie and Freddie directly.
If they are making "insider" purchases or sales based on lawsuit or political benefits, you will benefit from their hard work and early mover advantage.
If you are prone to gambling and taking outside risks, it will limit your portfolio to either 10% or 3% invested in a situation where shares could go to zero. Don't fool yourself into thinking that these guys are "all-in" on Fannie and Freddie and gambling the Royal Crown Jewels in a high stakes wager against the Courts and Washington.
Sincerely,
Monday Morning Risk Cmte.
If u guarantee all $5 Trillion of Their Liabilities
when they have zero capital, the answer is, YES!
what is the NPV of $0 cash flows to s/h forever?
Discounted at a 20% compound annual return
Is it zero, or negative?
Should you actually get paid to buy this stock?
Is owning this stock a liability rather than an asset?
If you have taken out debt or are in debt to buy the stock, you have a negative NPV for your investment. You're paying to own something that's worthless. Why would anyone have mortgage, auto, or credit card debt and own this stock?
what is the NPV of $0 cash flows to s/h forever
Is it zero, or negative?
Should you actually get paid to buy this stock?
Do they still sell radios? Gotta go to the thrift store and buy one.
Feels like we're in the 1950's all huddled around the radio listening to a baseball game.
I'm sure all the top money managers will be listening while they're at the Hamptons drinking martini's.
B thankful Ackman gave u 1 last chance to Sell
with the same ol line.
Unfortunately, he did say, the stock has the most downside of what he owns.
He has 3% of his portfolio in this stock and everyone on here is fully levered into this trade. Bill would freak out if he knew that you guys were betting your entire future on this gamble.
Hensarling talking to Obama about Housing Finance Reform
https://twitter.com/JonAPrior
Gentleman from TX used the R Word
and says the equity investors claims are ridiculous.
Delaney Connected into Blackstone Private Equity
sitting by ready to create new insurance companies to guarantee all mortgages w/out Fannie.
He is one of the most annoying in this game. Loves to talk with his hands. Enjoy.
like most liberals Maxine wants to lower g-fees for poor people and use all GSE profits to pay for low income housing.
heads you lose, tails you lose
'Bama same policies w/ Iran and Fannie
Does whatever he wants, deal with it. He'll veto you no matter what!
Looks forward to bleeding you to death while you pay expensive lawyers to battle him in court for 10 years.
He'll be living at a mansion in Hawaii, and a Republican in the White House will be dropping bombs on Iran and Fannie.
IRS Collecting their IPs to Audit
don't you realize what you're stepping into?
Ask Frank Fosco, that is if he is back from Abu Ghraib yet!
Yellen drops bomb on stock when replying to Royce
pumps Congressional reform of Fannie and Freddie. We know what that gives to shareholders.
Fannie has by far the most downside in Ackman's Portfolio
as quoted to Jim Cramer and Nelson Peltz on CNBC
Also, he admits that there is no value for shareholders in a court battle. Only value is in administrative action to recap the companies.
W/out Sr Pfd, GSEs have $187 billion negative capital
fact. Look at their financial statements.
The common equity is toast.
9 Straight Weeks of Losses, and next week will make 10
You think you are missing some vital info the everyone else but you knows about?
Read Lamberth and HERA. Convervator's Actions to safeguard companies assets for taxpayers is not subject to judicial review.
Read the GSE Charters and You will Understand the Conservator's Actions
for the orderly liquidation of the companies.
None of you have read the charters. These are GSE's, and you really need to read the charters before you continue to hold this stock.
Did you get the memo?
2012 Changes to SPSPAs
In August 2012, Treasury and FHFA changed the Senior Preferred Stock Purchase Agreements with Fannie Mae and Freddie Mac.
In addition to requiring a faster wind-down of their portfolios, the 10 percent fixed-rate dividend was replaced with a variable structure, essentially directing all net income to the Treasury. Replacing the current fixed dividend in the agreements with a variable dividend based on net worth helps ensure stability, fully captures financial benefits for taxpayers, and eliminates the need for Fannie Mae and Freddie Mac to borrow from the Treasury Department to pay dividends.
As Fannie Mae and Freddie Mac shrink, the continued payment of a fixed dividend could have called into question the adequacy of the financial commitment in the preferred stock agreements. The accelerated decrease of the retained mortgage portfolio reduces risk exposure.
The changes also give a level of certainty to Fannie Mae, Freddie Mac, and market participants.
http://www.fhfa.gov/Conservatorship/Pages/Senior-Preferred-Stock-Purchase-Agreements.aspx
Fannie is a Disease
A colo-rectal Fannie disease
eliminate this disease!