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Monday, April 22, 2019 12:34:10 AM
http://www.fairholmefundsinc.com/Reports/Funds2018Annual.pdf
Looks to be all FNMA and FMCC preferreds. Should not matter equity will likely outperform Prefs long term. Equity will do awesome - prefs will do great. No need to pick a side - just different parts of the capital structure but same companies and same legal issues. Prefs potential are capped and although equity may not get upside initially it will over time.
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