Author Topic: FNMA and FMCC preferreds. In search of the elusive 10 bagger.  (Read 3862407 times)

DRValue

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13740 on: September 12, 2019, 02:58:08 AM »
Also, buying more prefs on Monday. Bash and sell please.
[E]xpedience does not license omnipotence.

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DRValue

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13741 on: September 12, 2019, 04:23:06 AM »
At that point fannie would have over $30b in capital if 10pct moment stands.
They'll likely not be critically under capitalised at that point and probably listed on the nyse.

They would only have that capital if Treasury actually gives it to FnF in cash. Thompson said that his preference is to have Treasury keep the cash and issue a tax credit.

I'm not sure what the relisting requirements are, but I would expect it to happen alongside or just before the SPO.

I've never understood them requesting tax credits although I realise it's a carrot to treasury as it's easier.

What I don't understand is that it's not a like for like relief. You took my dollars and now I want something back that isn't dollars and will take years to get the full value of, while I REALLY need those dollars now and I would be in a totally different position if I had them.

The only compromise I'd make is if dtas are considered capital.
[E]xpedience does not license omnipotence.

Not Investment Advice. Do Your Own Research.

Luke 5:32

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13742 on: September 12, 2019, 05:19:13 AM »
https://twitter.com/HoldenWalker99/status/1172121784612618240
.@USTreasury @stevenmnuchin1 on @SquawkCNBC: "actively negotiating Amendment, objective to get it done by end of month" $FNMA $FMCC
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Luke 5:32

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13743 on: September 12, 2019, 05:24:16 AM »
Dick Bove sent out an e-mail this morning. 

“The pressure is on for the FHFA to come up with a plan for the GSEs before year-end.  There is now a possibility that preferred shareholders will receive $31 per share for their stock.  Common shares continue to hold no appeal to me”
« Last Edit: September 12, 2019, 05:39:58 AM by Luke 5:32 »
"You spoke a word and life began, told oceans where to start and where to end. You set in motion time and space, still You come and You call to me by name."  Stars by Skillet. Listen here: https://www.youtube.com/watch?v=TbLJyjfyACM

Luke 5:32

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13744 on: September 12, 2019, 05:25:43 AM »
https://twitter.com/DianaOlick/status/1172123008154165248
Treasury Secretary Mnuchin tells @BeckyQuick that @realDonaldTrump “has approved” his plan to reform @FannieMae @FreddieMac @SquawkCNBC
"You spoke a word and life began, told oceans where to start and where to end. You set in motion time and space, still You come and You call to me by name."  Stars by Skillet. Listen here: https://www.youtube.com/watch?v=TbLJyjfyACM

Mephistopheles

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13745 on: September 12, 2019, 05:46:30 AM »
Dick Bove sent out an e-mail this morning. 

“The pressure is on for the FHFA to come up with a plan for the GSEs before year-end.  There is now a possibility that preferred shareholders will receive $31 per share for their stock.  Common shares continue to hold no appeal to me”

$31?? That's piss poor

muscleman

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13746 on: September 12, 2019, 05:52:50 AM »
Also, buying more prefs on Monday. Bash and sell please.

The ideal situation is that all talking heads are bashing while the stock mysteriously inches up. Right now we have all good news blowing but stock steadily going down, which is the opposite.
I am still waiting for the ship to turn before buying
I am muslceman. I have more muscle than brain!

Midas79

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13747 on: September 12, 2019, 05:57:02 AM »
Dick Bove sent out an e-mail this morning. 

“The pressure is on for the FHFA to come up with a plan for the GSEs before year-end.  There is now a possibility that preferred shareholders will receive $31 per share for their stock.  Common shares continue to hold no appeal to me”

$31?? That's piss poor

He probably meant on the $25-par shares. 125% of par would certainly be fine with me but I'm not going to hold my breath.

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13748 on: September 12, 2019, 05:57:55 AM »
Also, buying more prefs on Monday. Bash and sell please.

The ideal situation is that all talking heads are bashing while the stock mysteriously inches up. Right now we have all good news blowing but stock steadily going down, which is the opposite.
I am still waiting for the ship to turn before buying

while waiting for your ship to set sail the train may be leaving the station

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13749 on: September 12, 2019, 05:59:29 AM »
Dick Bove sent out an e-mail this morning. 

“The pressure is on for the FHFA to come up with a plan for the GSEs before year-end.  There is now a possibility that preferred shareholders will receive $31 per share for their stock.  Common shares continue to hold no appeal to me”

$31?? That's piss poor

He probably meant on the $25-par shares. 125% of par would certainly be fine with me but I'm not going to hold my breath.

never have been impressed with bove.  another example is this, not using % of par. may not even realize there are some $50 par prefs