Fannie Mae-No Politics (FNMA)

[DaJester]

Am I reading this right? Say I have 10K JPS at $25 face.... You are saying I should be hoping for a lower PE multiple?

E.g. 9X multiple:
10,000 JPS x 18.2 (JPS shares per $25) = 182,000 common shares x $3 = $546K

vs.12X multiple:
10,000 JPS x 2.7 (JPS shares per $25) = 27,000 common shares x $18 = $486K

Maybe I don't understand your column headers? Or maybe that explains why JPS dilution solution peeps keep advocating for worst-case scenarios?