"In the event that Fannie and Freddie are recapitalized, John Paulson estimates his preferred shares are worth between 70-100% of par value. It depends on when the warrants are exercised and in the Moelis plan (which Paulson backs), the commons are worth $8-$13. I don't own common shares, but have in times past. In the Moelis plan, the common shares would outperform the preferred shares from today's price."
I am surprised with Glen Bradford's disclosure in this article that he owns substantially less number of shares of various flavors of Fannie and also that his disclosure doesn't have any Common shares... Only recently he claimed on this Message Board that he is borrowing to the Hilt and loading up on FNMA ie., Common shares. Which of his statements is true? Please do not flame me, I am not a Basher, I am just pointing out the inconsistency in his own statements...
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