Fannie Mae Preferred S (FNMAS)

[Commons_Cancelled]

Smart Money (Sr. Equity, aka Preferreds) are up 13% in the last 6 months, while Retail (Jr. Equity, aka Commons, aka Dumb Money) is down almost 50% in the last 6 months.

I think I know how this ends. Sr. Equity gets paid and uses that money to buy Common shares after the Mnuchin Dilution Solution (aka Moelis).