Replies to post #690486 on Fannie Mae-No Politics (FNMA)

[Mnemonic]

All good. If he gives you the OK at some point, I'd love to see it.

COFC has always been the horse to bet on, IMO. But you never know with how the courts have been behaving.

This period is pretty bleak, but the only risk I see is the housing market imploding before the GSE's are done with recap. It's a real possibility. That said, Prefs are at 17:1 odds, but I think the real odds are clearly better than that. Recession aside, the only risk is time/opportunity cost. I'm ready to wait a few more years.

If the investment thesis hasn't changed, then this should be a good time to accumulate. I can't speak for everyone who dumped after the case--it's possible someone knows something I don't--but I don't see how SCOTUS loss (probably <40% likelihood of win anyway) would justify a 60-70% drop in share price. As they say: buy when there's blood in the streets.

Also interestingly:

The original quote is believed to be "Buy when there's blood in the streets, even if the blood is your own."