If Fannie Mae goes through the release and recapitalize event and the price goes to .60 then the warrants are of little concern as I know I for one will scoop up as much as I can and pretty sure others too as it would be a bargain and up the price would go. Just isn't a concern at all, as a matter of fact I say bring it! ;>)
In layman terms: The pps before 2008 is above $60. With warrants the minimum price to be $60/5 = $12. So with warrants the price is to be at-least $12. But as per Ackman pps is $25 to $40 with warrants. So with out warrants the pps is 5 times of it, means $125 to $200. This is Just IMHO. Thanks.
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