Fannie Mae-No Politics (FNMA)

[Potty]

BX bought 7% of ET too - a huge vote of confidence to the area. I like CQP as well but don’t own it for obvious reasons.

The risk reward here looks a whole lot better and with these potential catalysts coming up you note. I would still be nervous of the common given there is a lot of dilution with a number of obvious options. So pref face value for me.

Happy to diversify into a Special Situation story not so connected to the general marlet