Fannie Mae-No Politics (FNMA)

[Sogo]

Ackman's dollar amount invested's small enough to lose. He owns a large percentage of the shares, but in dollar terms, his fund could easily stand to lose his entire GSE investment without missing a step. So I actually do not think he is necessarily the huge seller, if there is one. I think if he knows something definitive that we don't, it could be him. But if there's nothing definitive/truly decided yet about the ultimate fate of the GSEs, then Ackman might as well hold until it reaches zero and even then keep holding, because why not? He'd only lose about 3% of his entire fund if FNMA went to zero (if I recall correctly his dollar amount invested). But if there is even a very slight chance the common shareholders will ultimately be ok, Ackman would decide to hold. There does seem to still be a chance for that to happen.