[Your returns in 2016]

2016: 192% (in my very concentrated portfolio of only three investments)

 

Beginner's luck - my first full year in investing after becoming infected with the value investing bug midway into my MBA.

Hope to continue compounding slowly year on year

Best wishes to all of you for 2017!

[FNMA and FMCC preferreds. In search of the elusive 10 bagger.]

Has anyone successfully bought the preferreds through a Fidelity account? My family and I have some accounts there and just tried purchasing preferreds today, and it didn't work. Called up Fidelity and apparently they have blocked ALL FNMA and FMCC preferreds from puchases from ALL clients, regardless of low or high net worth or type of account.... They told me since they don't pay dividends, they are considered too "high risk" and so they won't allow them. Yet they allow the common, and I settled for those. What a stupid policy.

 

FNMAT is available to buy online through Fidelity - I have bought through an IRA and general account both without a problem.

 

A huge thanks to this community and the legal eagles here for your insights. I studied this case for Corporate Law paper as part of my MBA in early 2016 (5th amendment violation), and have greatly appreciated all the insights ever since. Thanks a lot!

 

hey doc, did you get a good grade on your paper?

 

Yessir, A for originality. Thanks again for your insights Cherzeca!

Fingers crossed going into this big catalytic event, whenever and however it unfolds.

 

edit: my analysis back in April was that preferred shares are protected by the Fifth amendment - even if companies are liquidated (which Fifth amendment allows), "just compensation" and liquidation preference would provide a margin of safety perhaps of par value. The commons are outside my little circle of competence.

 

Fairholme not selling any shares even now is a very very good omen in my opinion, as the catalysts are now political.

[FNMA and FMCC preferreds. In search of the elusive 10 bagger.]

Has anyone successfully bought the preferreds through a Fidelity account? My family and I have some accounts there and just tried purchasing preferreds today, and it didn't work. Called up Fidelity and apparently they have blocked ALL FNMA and FMCC preferreds from puchases from ALL clients, regardless of low or high net worth or type of account.... They told me since they don't pay dividends, they are considered too "high risk" and so they won't allow them. Yet they allow the common, and I settled for those. What a stupid policy.

 

FNMAT is available to buy online through Fidelity - I have bought through an IRA and general account both without a problem.

 

A huge thanks to this community and the legal eagles here for your insights. I studied this case for Corporate Law paper as part of my MBA in early 2016 (5th amendment violation), and have greatly appreciated all the insights ever since. Thanks a lot!