Fannie Mae-No Politics (FNMA)

[kthomp19]

Let's say....If you owned JPS shares at a cost of $12, you would try and pump to get the current price of $2-3 back up to 12, Why? so you can sell those HIGH cost basis shares.

Shares are shares, and cost bases are averaged. The only way someone would care about the cost basis of particular shares is if they are short-term versus long-term, and having the price go from $2.30 today to $12 would dwarf any relative tax losses.

If junior pref holders could pump the price up to $12, they would do so no matter what their cost basis is.

Then you'd want the cost to go back down so you can buy in cheaper and maybe more shares (lower your cost basis) in the hopes at selling later on at a higher price.

All you're saying here is "buy low, sell high", and again, this is the goal of investing no matter what one's cost basis is.

There are many like GB, who most likely have higher cost JPS shares they bought early on (high cost basis) and they are dying to off load those high cost shares to buy cheaper ones (lower their cost basis).

This makes no sense. If someone's cost basis is higher than current prices, they can lower their cost basis by buying more now without having to worry about "off load[ing] those high cost shares".

If you are following them, then you will be a bagholder if their pump and dump ever works.

The thing is, common shareholders have been doing the exact thing you accuse Glen of for years, and I don't see you calling them out. Stop being so biased.

Is this simplified enough?

It is certainly as simple as its source.