Fannie Mae-No Politics (FNMA)

[DaJester]

Horrible advice.
"The only JPS maybe possibly worth holding is FNMFO because it is convertible to common at a conversion price of $94.31."

If you properly read the agreement:
"The preferred shares are convertible any time at the holder's option into 1060.3329 common shares"

The initial conversion price it was based on is irrelevant. If you want a preferred that can be converted to 1060.3329 common shares, you would get the common shares and whatever price they are currently at. Could be more than $94, and clearly it could be less.