My assessment has changed within the last hour. An investor pointed out a flaw in my valuation and I agree with what he pointed out. If warrants are excercised, the outstanding count will be 5.7b. That drops the valuation to around $11 per share for Fannie Mae if recap is at 10%, which I don't believe it will be more than 5%.
My timeframe is an assumption based on what has been stated by Mnuchin & Trump. Trump has made several statements that his top priorities for his first 100 days in office will consist of 10 things. He doesn't list the 10 things. Mnuchin went further and stated that the GSE's are amongst those top 10 things. That places the possibility of a release by April. However, that's pure speculation.
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