Good news to me imo. They see the writing on the wall, and Pershing will likely see the largest $ gain in any trade ever. First trillion dollar trade inc?
mike - unfortunately, there's double counting. I posted the links to show Tim Pagliara has been steadily accumulating FNMA & FMCC. It was in response to a post that said, "Wonder why Tim didn't convince Bove that the commons had some value."
However, based on low daily volume traded, I wouldn't be surprised if institutions hold a major portion of commons and preferreds. Since they are traded on pink sheets, the institutions are not required to disclose their holdings. Capital Group, Capital Research and Management and The Growth Fund of America (same group) will shortly update their holdings. Here's a link.
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