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Those who don't get it will pay up. That's how the stock market works.
Of course you don't understand. Otherwise you would have sold your commons long ago and bought JPS with the proceeds.
If you have $100,000 in commons now, you could turn that into a million by trading it for JPS.
If you continue to hold your commons, your $100,000 investment could turn into something like $10,000 to $12,000.
Difference: factor 100.
Will be $50 after a 500 to 1 reverse split. So it will go up to $50.
Unfortunately, the number of commons you hold in your brokerage accounts will decrease with the reverse split.
At 500 to 1, the reverse split looks like this:
After the SPS-to-common-conversion and the reverse split, today's 10,000 shares at 90 cents (worth $9000) will become 20 new shares (FNM) at $50, worth only $1000.
This is equivalent to the legacy commons falling to 10 cents (initially) after the SPS conversion.
That would indeed cause a frenzy. Won't happen, though.
Agreed, if HOD stands for House of Doom.👻
Please note that it's ERCF, not ECRF.
It stands for "Enterprise Regulatory Capital Framework".
Congrats. Last time you posted you only owned 70 FNMAT and were planning to sell them, I think it was for a warm meal.
It's just the psychologically 100% understandable counter-reaction to commons pounding their chests like crazy when JPS drop for two seconds.
The whole thing is called "Western Civilization".
🤥 :
It's true that both JPS holders and common shareholders have married the companies. The difference is that JPS holders have a prenuptial agreement (aka "contract rights").
Not true. There is a major overhead resistance at $1,25.
It's the market. A phenomenon called "overhead resistance". Previous buyers who bought too high are trying to get out with little or no losses.
Hank Paulson is not in jail, in the lies that FnF were bankrupt in 2008 live on.
"Zero" [0] is another option in the OTC casino. The bank (= government) lives on zeros
Remember what Hank Paulson said in 2008?
Finally, realize that no one at iHub has any control over the future of Fannie and Freddie. No matter what he wants, no matter where he lives (hat tip to Wise Man in Spain).
No one cares what you want, and no one cares what I want. Thanks.
The never-ending accusations against Bradford, KThomp, and "the like" are inappropriate. They are accused of trying to manipulate the market or public opinion in their favor. This is nonsense, because iHub posters have hardly any influence at all. The government does what it wants anyway, and nobody outside iHub cares what iHubers write.
So what we see here is hubris and weird self-importance from people who spend half their lives on the iHub website. In doing so, they succumb to the illusion that they are important and decisive for the formation of public opinion or even for the outcome of court cases.
In case you didn't notice, my quote is a criticism of the current state of affairs. The way the government is dealing with FnF, which can only be described as shameless, is the best proof that I am right. Stealing from shareholders is the opposite of free market capitalism.
I give up to argue with morons.
I'm not interested in your misconceptions. If you were capable of analyzing texts, you would notice that my diction is fundamentally different from Glen Bradford's. However, I do share GB's concern that commons will be severely diluted in the course of recap/release. But that doesn't mean I'm the same person as GB, as some morons (especially "Wise Man") keep implying here.
I present arguments here. You falsely criticize them as "bashing" just because the arguments don't fit your preconceived notions.
True freedom is being allowed to say what other people don't want to hear.
Okay, I'll buy one share of Freddie common stock to be "eligible" to post here.
This will cost me the dollar I would have otherwise given to a homeless person.
If your "fact" leads to disappointment, you will realize that expectations can be deceiving.
That there is still a "free market" regarding FnF is another illusion waiting to be disproved. In conservatorship you are only as "free" as a madman in a straitjacket.
In postmodern America, where greed reigns supreme, hackneyed "free market" platitudes from the 1950s won't get you anywhere.
Everyone is free to state their expectations. The crucial question remains as to how likely it is that these expectations will actually materialize.
I do expect "some 500% or 1000% return", but I think the only realistic way to achieve this is to buy/hold JPS.
I wish you were right. Which means: it's probably a pipe dream.
Please also be prepared for Plan B: After the capital raise, reverse split, and relisting, commons will drop to the equivalent of 8 cents, your portfolio value will drop from $500,000 to $50,000, and the annual dividend will be $2,000, or $166 per month.
(This is not what I wish for, but what is most likely to happen.)
Proof is lost in the pudding.
Congrats, lil bro.
I'm not convinced. Anyway, that doesn't make it the "final order" or "final judgment".
Why did you cross out "Proposed" in the "Proposed Order" heading of the post you made?
It might be worth it, at least financially, to trade the snake pit of the WSJ for the scorpion pit of Breitbart.
Merry Christmas to all here.
I came to this board almost three years ago as a peaceful, humble European farmer riding his donkey across barren fields while quietly whistling the Fannie Blues through the FHFA graveyard. I initially owned Fannie commons, but after two weeks, shocked by KThomp's revelations, I sold them. My entry price was $1.80. I sold at $1.70, only to find three days later that the price was back at $2.10. I switched to JPS and realized that I was going against the consensus opinion on this board. Surprisingly, I found myself in a snake pit of hate where commons had nothing good to say about JPS holders. After three years, this has rubbed off on me and I'm starting to post cynically and corrosively myself. This is a result of my shit emoji 💩 "socialization" on this board.
But since today is Christmas, I humbly ask for forgiveness from anyone who felt or feels hurt by my posts. I hope that 2024 brings some sort of salvation to everyone here. Even if it is only from having to compulsively read, post and "hate" here every day