Attempts to estimated stock price, at this point, due to the complexity and sheer number of variables is unproductive
Right - this makes a Rubric's cube look easy. Also, as the story unfolds the numbers would constantly change perhaps wildly.
I wouldn't call attempts to estimate a stock price "unproductive". I thought that's what investing is all about. If I can get a GSE share for $1.50-$1.75 - even given the great uncertainty in the housing market as a whole - I am willing to go with the Nomura estimate of 4.50/5.00 (in a couple of years). Or FNMAS for 25% of Par (or whatever you want to call it). I'll take it.