Luke 532

Gasparino. I know, I know, but still... SCOOP—Trump Administration actively discussing what could be the largest public offerings in history to recapitalize @FannieMae @FreddieMac more now @FoxBusiness @TeamCavuto $FNMA $FMCC Not that this is news to us on this board, but thought it was worth mentioning this tweet.

Court doc attached... 13-mc-01288-0104.pdf

Phillips is leaving next month: https://www.nytimes.com/2019/05/16/business/craig-phillips-treasury-fannie-mae-freddie-mac.html

I think regarding the prefs this statement is accurate. But perhaps not so much with the common. Long-term, after dilution, I will strongly consider buying common but to me that is a better bet once the companies are operating normally again, with the prefs being a better bet now.

https://twitter.com/joelight/status/1126175599507202049 Joe light blocked me...can someone post text if important. and copy/paste bberg article to which I dont subscribe. thx (and a beer would be nice) He blocked me, too. Didn't even realize it until I tried to click on that link today.

Odd temporary spikes in common and prefs.

See attached... 13-465-0434.pdf 13-465-0435.pdf

Well said.

FHFA just again sent a tweet about the American Banker article moments ago.

FHFA's twitter account tweeted the American Banker article. They are trying to tell the market what's going to happen. The market is still in a coma.

+1

Hannah Lang (American Banker) talks with Calabria... https://www.americanbanker.com/news/calabrias-ambitious-fhfa-agenda-its-not-just-gse-reform?brief=00000158-07c7-d3f4-a9f9-37df9bc10000

https://www.forbes.com/sites/tedknutson/2019/04/24/mnuchin-consumers-need-much-more-user-friendly-ways-of-controlling-who-gets-their-personal-data/#2da6f4a25341 On Mnuchin... "He told the gathering he is aiming to get housing finance reform done in six months. Mnuchin said the goal is to reduce risk at the FHFA as well as removing Fannie Mae and Freddie Mac from conservatorship."

Bloomberg Intelligence attached...

BREAKING: Treasury Dept & Dept of Housing & Urban Development are expected to deliver reports on their ideas for overhauling Fannie Mae & Freddie Mac in “weeks, not months,” Andrew Olmem, deputy director of the National Economic Council, says Wednesday #FannieGate $FNMA $FNMAS

MM, re-read what you said in this paragraph. I think you DO have the makings of a successful value investor if you are able to overcome the emotional struggle of not catching the bottom. Look, I've been there. It stinks paying more today for something I could have had cheaper yesterday, but it is what it is. Why not pay 10% or 20% more over and above the bottom price when the stock, as you've experienced a lot of times, would double from the low? Is that additional 80%+ not worth trying to work on the emotional discipline of getting over the disappointment of not catching the bottom? I would think you'd agree that it is a worthwhile discipline to try to get a handle on given you were in the right place at the right time a lot of times... but missed it because of something that you can work on with some effort.

To be fair, trying to time the market and catch the bottom is not value investing. Value investing doesn't care what previous price action took place (i.e. the bottom). It cares about what the stock trades at compared to the intrinsic value of the underlying company. That's it.

Adolfo Marzol to be Calabria's principal deputy director.

https://www.fhfa.gov/Media/PublicAffairs/Pages/Dr-Mark-Calabria-Sworn-In-as-Director-of-the-Federal-Housing-Finance-Agency.aspx “I enter this office with a sense of urgency. The foundations of our mortgage finance system remain vulnerable, and we must not let this opportunity for reform pass," said Dr. Calabria.

Take a look at FNMAP and FMCCL if you're willing to own some of the less liquid prefs.

Senate will confirm Mark Calabria as FHFA director tomorrow afternoon

https://twitter.com/CGasparino/status/1113164109724438528 SCOOP-@POTUS privately directs economic team to talk to Wall Street bankers and private equity execs to examine complete privatization and possible sale to @FannieMae @FreddieMac more now @FoxBusiness $FNMA $FMCC

From cherzeca... Will Fannie And Freddie Investors Finally Get Relief? POTUS Memo, Collins En Banc And The Smart Way To Recapitalize The GSEs https://seekingalpha.com/article/4252309-will-fannie-freddie-investors-finally-get-relief-potus-memo-collins-en-banc-smart-way

:D

Forbes today... https://www.forbes.com/sites/ikebrannon/2019/03/19/fannie-and-freddie-need-more-capital/#699414245436