Replies to post #752974 on Fannie Mae-No Politics (FNMA)

[Donotunderstand]

enjoyable to read

per Bradford -JPS can not be force converted to common nor can they be declared dead.

thus he would argue it will pay say $25 on the $25 face.

as they now sell for about 1.5 --- the market is either saying - Bradford you have way too much confidence JPS will be paid face/par OR it will happen but in 30 years or so of waiting. The 1.5 price of the JPS argues Bradford is way to confident about JPS --- and the 50 cent price on common argues he is way too pessimistic on common.