Fannie Mae Preferred S (FNMAS)

[Joe Stocks]

But every time ACAS buys back stock at a discount to NAV...

I know what you are saying but ACAS also said they would only do that as long as there NAV is above their PPS. $30 by 2015 looks like a WAG to me. ACAS is only projected to show earnings of 1.09 for 2013, and 1.16 for 2014.

Like I said, I own it but my target is for it to get up to NAV. I expect it will chase for awhile which is fine with me, I just don't see a double in two years.