Gretchen Morgenson on Judge Sweeney's Motion to Compel:
http://www.nytimes.com/2016/10/05/b...nts.html?_r=0&referer=https://t.co/Z0YA4fzGCH
http://www.nytimes.com/2016/10/05/b...nts.html?_r=0&referer=https://t.co/Z0YA4fzGCH
Getting close to the Finish Line in the Perry Case. I fully expect a Remand at the minimum, but would prefer a Reversal. Big things on the horizon.
Check out Richard Epstein's latest article:
http://www.forbes.com/sites/richard...de-simple-in-fannie-and-freddie/#30b014b23637
Check out Richard Epstein's latest article:
http://www.forbes.com/sites/richard...de-simple-in-fannie-and-freddie/#30b014b23637
Getting close. LOL @ FHFA's Emergency Motion. Can you smell the desperation? ... This is all about to blow up in their face:
http://gselinks.com/Court_Filings/PWC/16-cv-21224-0052.pdf
http://gselinks.com/Court_Filings/PWC/16-cv-21224-0052.pdf
New article from Roger Parloff on Fortune discussing the settlement that FHFA is trying to intervene upon:
http://fortune.com/2016/10/26/freddie-mac-pwc-auditor-suit-settled/
http://fortune.com/2016/10/26/freddie-mac-pwc-auditor-suit-settled/
New article from Richard Epstein regarding the Gov's appeal and writ of mandamus to not hand over the documents (only 56 of 11,000+ that they are still covering with various privileges to prevent the truth from coming out).
http://www.forbes.com/sites/richard...on-fannie-and-freddie-discovery/#52b84a1925ef
http://www.forbes.com/sites/richard...on-fannie-and-freddie-discovery/#52b84a1925ef
Hope you've been enjoying the ride the last few days. Thank you President-Elect Trump! The teams you are forecasting are all pro-Fannie and pro-Freddie and the stocks are realizing that.
As always, I'm almost entirely Preferred and still suggest folks to stay that way. Still a long ways to go to get back to Par
As always, I'm almost entirely Preferred and still suggest folks to stay that way. Still a long ways to go to get back to Par
Followers of #FannieGate should attend this conference call. Former Fannie Mae CFO (Tim Howard) will be a speaker.
WASHINGTON, D.C. — On Tuesday, November 15 at 10:30 am EST, Investors Unite will hold a teleconference to discuss risk sharing in the secondary mortgage market, a major policy that could affect Fannie Mae and Freddie Mac moving forward.
The teleconference will feature Investors Unite Executive Director Tim Pagliara, Former Chief Financial Officer and Vice Chairman of the Board of Fannie Mae Tim Howard, and the Head of External Affairs for the Community Mortgage Lenders of America Rob Zimmer.
To join the teleconference, please RSVP to media@investorsunite.org.
WASHINGTON, D.C. — On Tuesday, November 15 at 10:30 am EST, Investors Unite will hold a teleconference to discuss risk sharing in the secondary mortgage market, a major policy that could affect Fannie Mae and Freddie Mac moving forward.
The teleconference will feature Investors Unite Executive Director Tim Pagliara, Former Chief Financial Officer and Vice Chairman of the Board of Fannie Mae Tim Howard, and the Head of External Affairs for the Community Mortgage Lenders of America Rob Zimmer.
To join the teleconference, please RSVP to media@investorsunite.org.
| WHO: | Tim Pagliara, Investors Unite Executive Director and CapWealth Advisors Chairman and CEO Tim Howard, Former Chief Financial Officer and Vice Chairman of the Board of Fannie Mae Rob Zimmer, Community Mortgage Lenders of America Head of External Affairs |
| WHAT: | Investors Unite Risk Sharing Call |
| WHEN: | Tuesday, November 15th, 10:30 am EST |
| DIAL IN: | 800-895-2195; Conference ID: Investors |
Good information on Paulson. Let's see if Trump returns the favor and helps re-privatize Fannie & Freddie.
http://www.vanityfair.com/news/2016/11/john-paulson-trump-favor-to-ask
The big gains are yet to come. The last few weeks were just a warm-up to our first 150-300% day, with much more to follow.
Expect at least a 50% bump in price if/when Mnuchin gets selected for Secretary of Treasury position.
http://www.vanityfair.com/news/2016/11/john-paulson-trump-favor-to-ask
The big gains are yet to come. The last few weeks were just a warm-up to our first 150-300% day, with much more to follow.
Expect at least a 50% bump in price if/when Mnuchin gets selected for Secretary of Treasury position.
Great article from Financial Times -- https://www.ft.com/content/a661d6fe-b205-11e6-a37c-f4a01f1b0fa1
Let's hope this guy is right: http://www.nytimes.com/2016/11/29/u...mp-treasury-secretary.html?smid=tw-share&_r=0
It's over. All aboard. Still ~500% ROI on some $50 Preferreds. Huge day coming today.
http://mobile.reuters.com/article/idUSN9N1D9060
http://mobile.reuters.com/article/idUSN9N1D9060
Damn, held off for the last 5 months since your initial post, as I've been too lazy to open a non-registered investment account. Can't hold OTC in Canadian Retirement/Tax Free acounts.
Time to hop on board?
How will this thing move until the Senate confirms the appointment? What if it doesn't support our friend Steven?
Time to hop on board?
How will this thing move until the Senate confirms the appointment? What if it doesn't support our friend Steven?
There's still plenty of time to get on board. Preferreds are the way to go, but if you like to gamble or want a higher risk/reward, go with some Common shares. I only own Prefs and have owned them for several years, so I locked in my long-term gains and have no interest in selling until at least Par value. Commons I value anywhere between $10-18 per share, possibly more. But the outcomes are too cloudy for me to value Commons properly, so I'll stick with Preferreds and only trade the Commons.
Keep in mind, this was solely a legal play for me. I knew the courts would see through the BS and so I invested accordingly. However, this now has two outs: Legal and Political. The political out now plays into recapitalizing the two companies and having them come back stronger than ever. As for Mnuchin getting confirmed, I think it's a done deal. Dems changed the rules a few years ago to make it damn near impossible to block an appointee. He's a lock.
My top picks for Prefs are: FMCCT for Freddie and FNMFN for Fannie. They have been and continue to be my top holdings due to potential Dividends if they are ever re-instated (which I think there is a high likelihood for this to happen). As such, they trade at a premium to other Preferreds. The $50s are the way to go based on pure ROI, and these are my two favorites.
I believe they will retain their Government Charter and an implicit government guaranty. The outcome of this bailout is they will likely turn Fannie & Freddie into Utility companies with a capped return. This won't benefit Common shareholders much, but Preferred shareholders will be made whole. I believe they will likely need to sell additional Jr. Preferreds (basically regular Prefs once Government's Sr. Prefs are deemed paid off) to the tune of $50B. This will dilute Common earnings potentials. So with a Utility model and additional earnings dilution (which can't be properly calculated at this time), you can see why I think the Prefs are the better investment option.
Please take a look at Josh Rosner's article, I believe this addresses the Utility model more in-depth: https://www.dropbox.com/s/gggs89qewxtl385/GSEs-Former-WH-Officials-Involved-in-GSE-Scandal.pdf?dl=0
Richard Epstein just dropped another article. His legal analysis is on-point. NWS going away. Check it out here on Forbes:
http://www.forbes.com/sites/richard...to-privatize-fannie-and-freddie/#7d68d2d66cf6
http://www.forbes.com/sites/richard...to-privatize-fannie-and-freddie/#7d68d2d66cf6
And a new article from Gretchen Morgenson via NY Times. Next week should be even more fun!
http://www.nytimes.com/2016/12/02/b...independence-for-fannie-and-freddie.html?_r=1
http://www.nytimes.com/2016/12/02/b...independence-for-fannie-and-freddie.html?_r=1
Yeah, if they didn't have gov't backing then they're worthless. No different than your avg underwriter/lender.
That is a pretty crafty use of language to say that they're not government entities when they will still be backed and now everyone can make dubious loans and give them back to fannie and freddie again. I'm sure the underwriting will be stricter but for how long? Who knows.
Not a big fan of GSE's but nice call. Wish I had given it more thought but after your Chinese microcaps disaster always saw you as a bit of a charlatan. Lol j/k
That is a pretty crafty use of language to say that they're not government entities when they will still be backed and now everyone can make dubious loans and give them back to fannie and freddie again. I'm sure the underwriting will be stricter but for how long? Who knows.
Not a big fan of GSE's but nice call. Wish I had given it more thought but after your Chinese microcaps disaster always saw you as a bit of a charlatan. Lol j/k
