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Wednesday, May 01, 2013 7:02:12 AM
With Obama's proposed announcement of Watts to replace Demarco this is a good indicator that the future of F and F as far as tax payers, homeowners, and especially shareholders are concerned will be a more favorable environment than what has been proposed by Bush appointee Demarco.
The potus is relying on pragmatic bi-partisan congressmen to approve this appointment of Watts in short order as the consequence of not doing so could result in a loss of confidence in a key area of the housing recovery. If that were to happen it puts the tax payers investment in f an f back in jeopardy of being in the red instead of the current black. Who wants to be responsible for that?
The big earnings will beget media attention, lots of it. The media attention will bring more investors and spectators. The result of this will put increased pressure on lawmakers to choose a direction.
The spring here is loaded. It's been compressed and coiling for 5-6 weeks at this current level. The earnings are not baked into the PPS. The only reason this has not exploded up is because there are still those that are short here based on the perception of Fannie and Freddie from wearing lenses from 2008. These folks fail to see the momentum has moved far away from that perception and that via the federal courts recent rulings on fraudulent mortgages sold to F and F and the strength of the housing recovery overall, F and F have shed their blight and are looking rather sexy. So sexy that apparently even big time hedge funds are looking to court them. So how bad an investment are they really when everyone from the government, to the shareholders, to the private equity groups want to own a piece of them?
If you are short here you should hedge by buying aspirin, lots and lots of aspirin.
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