Author Topic: FNMA and FMCC preferreds. In search of the elusive 10 bagger.  (Read 3813801 times)

muscleman

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13160 on: July 29, 2019, 11:21:49 AM »
“Too much hope on En Banc where they may have spread their wings already. Fraud didn’t stop at stealing money and hiding documents for last 11 years and wonder if it will ever stop. There was hope but no more. Stopping NWS can be immediate than Calabria continue giving bullshit interviews in the press “


Where does this quote come from?
Or are you simply making baseless statements?
I am muslceman. I have more muscle than brain!


investorG

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13161 on: July 29, 2019, 12:25:01 PM »
“Too much hope on En Banc where they may have spread their wings already. Fraud didn’t stop at stealing money and hiding documents for last 11 years and wonder if it will ever stop. There was hope but no more. Stopping NWS can be immediate than Calabria continue giving bullshit interviews in the press “

As I look at the FnF non-govt common market caps hovering around $5bn, and jr prefs trading well below par, I don't know if I should be more embarrassed at myself for having non-gutter level expectations for the government or the actual government for waking up every day trying to screw tens of thousands of its citizens.   

The 2008 deal was the deal.  conservatorship, not receivership;  shares still traded.  harsh on the shareholders and juicy rewards for the government -- as it should have been.  The 2012 NWS was a travesty and it's a shame that it's now 7 years later there's no apparent urgency to right the wrong.  It's hard to believe but at this point it is what it is. 

good luck, everyone.
« Last Edit: July 29, 2019, 12:30:32 PM by investorG »

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13162 on: July 29, 2019, 01:38:07 PM »
@IG

add to that the notion that i) there is no alternative, as the SBC has found out over the last 7 years, much to corker's consternation, and ii) to recap GSEs, you ave to go back to original 2008 deal.  the NWS was a move into a twilight zone that had no follow-on move that anyone had thought through, and so the question is, do you keep GSEs in limbo or do you reverse the move that put you into the twilight zone.  mnuchin and calabria have answered that question clearly, though we may be perplexed by their delays and timing. and none of this is dependent on the outcome of collins en banc, about which I am bullish

Luke 5:32

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"What treasure waits within Your scars, this gift of freedom gold can't buy. I bought the world and sold my heart. You traded Heaven to have me again." Hillsong's "Touch The Sky": https://www.youtube.com/watch?v=T-mALvKKCe0

DRValue

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13164 on: July 31, 2019, 08:01:58 AM »
Commons down 12%, have I missed some big news??
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Luke 5:32

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13165 on: July 31, 2019, 08:06:16 AM »
Commons down 12%, have I missed some big news??

Maybe they anticipated the NWS ending announcement to be in earnings this morning?  I think that's foolish because that announcement will come from Treasury, FHFA, White House, etc. and not from the two GSE companies themselves.
"What treasure waits within Your scars, this gift of freedom gold can't buy. I bought the world and sold my heart. You traded Heaven to have me again." Hillsong's "Touch The Sky": https://www.youtube.com/watch?v=T-mALvKKCe0

Ahab

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13166 on: July 31, 2019, 08:08:27 AM »
Maybe people are front-running an adverse outcome for the common? Preferreds don't seem to be taking a similar dive.
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Midas79

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13167 on: July 31, 2019, 08:09:38 AM »
Commons down 12%, have I missed some big news??

Maybe they anticipated the NWS ending announcement to be in earnings this morning?  I think that's foolish because that announcement will come from Treasury, FHFA, White House, etc. and not from the two GSE companies themselves.

My guess is that it's the 4-month delay in Lamberth's court. But the trial date is set for October 19, 2020, while the original order I saw had the date one month later. So while there is a delay in discovery, there doesn't appear to be one for the trial.

https://twitter.com/DoNotLose/status/1156474247889510400
http://www.glenbradford.com/2019/05/fnma-fanniegate-856/

DRValue

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13168 on: July 31, 2019, 08:11:57 AM »
Commons down 12%, have I missed some big news??

Maybe they anticipated the NWS ending announcement to be in earnings this morning?  I think that's foolish because that announcement will come from Treasury, FHFA, White House, etc. and not from the two GSE companies themselves.

My guess is that it's the 4-month delay in Lamberth's court. But the trial date is set for October 19, 2020, while the original order I saw had the date one month later. So while there is a delay in discovery, there doesn't appear to be one for the trial.

https://twitter.com/DoNotLose/status/1156474247889510400
http://www.glenbradford.com/2019/05/fnma-fanniegate-856/

I think you're right, i'm happy with that. Time to get the cheque book out...
[E]xpedience does not license omnipotence.

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Midas79

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13169 on: July 31, 2019, 08:13:37 AM »
Maybe people are front-running an adverse outcome for the common? Preferreds don't seem to be taking a similar dive.

One theory I read is that someone knows that the Fifth Circuit is going to affirm the panel decision and that the price movement is similar to that before the initial Lamberth decision in 2014 that sent the shares tumbling. I wasn't following FnF at that point, but the chart does bear out the similarity.