Author Topic: FNMA and FMCC preferreds. In search of the elusive 10 bagger.  (Read 3717987 times)

cherzeca

  • Hero Member
  • *****
  • Posts: 2437
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #12730 on: June 14, 2019, 11:00:24 AM »
Listen for commentary on the Asset-Backed Alert article.  Discussion starts at 26 minutes, 25 second point and lasts for about 7 minutes.
https://valueplays.podbean.com/

who was speaking?

the Ps claim (collins) is not for par + damages.  it is to invalidate NWS, which would essentially eliminate senior pref and get back into GSEs an added $20B or so.  Ps claim in court of claims (which maybe the speaker is alluding to) is on a very slow track and depends upon an untrustworthy j. lamberth   
« Last Edit: June 14, 2019, 11:02:57 AM by cherzeca »


Luke 5:32

  • Hero Member
  • *****
  • Posts: 2648
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #12731 on: June 14, 2019, 11:02:59 AM »
A wise husband, a wise father, asks God for help. Don't be a prideful, self-reliant fool. "Father, lead me, 'cause I can't do this alone..." Lead Me by Sanctus Real: https://www.youtube.com/watch?v=yLr6G8Xy5uc

Ahab

  • Full Member
  • ***
  • Posts: 136
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #12732 on: June 14, 2019, 11:31:25 AM »
I heard something about Lamberth ordering a jury trial floating around on Twitter this week, but wasn't able to verify it elsewhere...
Long: FNMAT, FNMAN, FMCCL, FMCKO, BAC, JPM, GOOG, JD, MO/PM
Short: PCG, TSLA
Twitter: AhabValue

orthopa

  • Hero Member
  • *****
  • Posts: 803
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #12733 on: June 14, 2019, 11:52:21 AM »
Barclays GSE event from yesterday - https://imgur.com/VrqjZkb

thanks for the link.

Maybe Calabria thinks/knows that anything he may request from congress for more power for FHFA doesn't get passed either. Maybe the competition request is just a show too.

cherzeca

  • Hero Member
  • *****
  • Posts: 2437
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #12734 on: June 14, 2019, 12:35:45 PM »
@Luke

I think treasury/fhfa/large junior holders/litigants all realize that a settlement is necessary, and I think it is no secret that junior holders generally will be satisfied with par, likely converting par into the common at re-IPO price.  since the litigation ask is to kill the seniors, and killing the seniors just so happens to be necessary to re-IPO, it would seem that this settlement would be not a heavy lift. 

so introducing the concept of damages beyond par is not incorrect, just not that relevant imo
« Last Edit: June 14, 2019, 12:46:37 PM by cherzeca »

Luke 5:32

  • Hero Member
  • *****
  • Posts: 2648
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #12735 on: June 14, 2019, 12:48:00 PM »
Thanks, Christian.

The two comments below work perfectly together (seniors being fully paid back)...
since the litigation ask is to kill the seniors, and killing the seniors just so happens to be necessary to re-IPO, it would seem that this settlement would be not a heavy lift.

Barclays GSE event from yesterday - https://imgur.com/VrqjZkb
A wise husband, a wise father, asks God for help. Don't be a prideful, self-reliant fool. "Father, lead me, 'cause I can't do this alone..." Lead Me by Sanctus Real: https://www.youtube.com/watch?v=yLr6G8Xy5uc

muscleman

  • Hero Member
  • *****
  • Posts: 3220
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #12736 on: June 15, 2019, 08:02:04 AM »
For those who believe after all the industry wide talks with Craig Philips, who is supposed to keep a poker face, don't forget one thing: Craig Philips finished his work and currently seeking for a job on Wall Street. Guess what interview questions people on WS are gonna ask him? And what would he say to get the biggest offer package?  ::)
I am muslceman. I have more muscle than brain!

cherzeca

  • Hero Member
  • *****
  • Posts: 2437
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #12737 on: June 15, 2019, 10:57:40 AM »
For those who believe after all the industry wide talks with Craig Philips, who is supposed to keep a poker face, don't forget one thing: Craig Philips finished his work and currently seeking for a job on Wall Street. Guess what interview questions people on WS are gonna ask him? And what would he say to get the biggest offer package?  ::)

you have it backwards. street firms won't be doing the picking

muscleman

  • Hero Member
  • *****
  • Posts: 3220
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #12738 on: June 18, 2019, 08:08:05 AM »
A question for Chris. I was puzzled by this table here:
https://twitter.com/HoldenWalker99/status/1140643774512676864

It almost looks like 50-50 to me for affirm/reverse decisions.

Didn't we say it was 14 reversals out of 16 before?  :o
I am muslceman. I have more muscle than brain!

cherzeca

  • Hero Member
  • *****
  • Posts: 2437
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #12739 on: June 18, 2019, 08:43:44 AM »
A question for Chris. I was puzzled by this table here:
https://twitter.com/HoldenWalker99/status/1140643774512676864

It almost looks like 50-50 to me for affirm/reverse decisions.

Didn't we say it was 14 reversals out of 16 before?  :o

13/16 reversals of merits panel appellate decision.  I guess this tweeter went to rev/aff of original district court decisions.