Fannie Mae Preferred S (FNMAS)

[44centsAKAchoccake]

Yes. I liked how he talked about having a portfolio of "event options."

I used to talk about buying the GSE preferreds as a long-term option on the future of America, the idea being that if the US economy did ok then the GSE preferreds would do very well. And, back then, it was a very asymmetric bet, i.e., it didn't have much room to fall, but could go back to RV. There is still plenty of upside.