Fannie Mae-No Politics (FNMA)

[kthomp19]

To my knowledge Ackman still holds and I won GGWPQ thanks to him. Won AAMRQ...Now winning HTZ. FNMA certainly has similarities in that all four of these have been or are distressed stocks.

You just have to hope that FnF commons don't become another Valeant long or Herbalife short disaster story. Ackman has a history of huge winners and huge losers. Don't complain if you end up in the latter camp.

FNMA one of biggest money makers on the planet. Holding on the basics...I knkw what they are and for me, I gotta keep it simple. Hold for the Gold.

The "Gold" here is $8 per share, max. There are too many dilutive forces arrayed against the commons to get any more than that.

Calabria's inclusion of a separate CET1 capital standard is a huge tell. It means that the re-IPO will be mostly if not all commons, and that the juniors are highly likely to be offered a conversion.