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COBFInfinity

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  1. Yeah, there are potentially 2 ways to buy it: You are authorized to trade in the Expert Market because you are a market maker or something like that, or a brokerage firm is allowing you to buy it through them. I used to inquire if there was some way for an individual to get access to the expert market on their own, but no one seemed to know the answer, so I let it go.
  2. How big is the jury? How many of them need to agree for a decision?
  3. Just more self-serving B.S. He acts like his absurd capital levels have nothing to do with the GSEs staying in conservatorship. And now he's talking again about how the GSEs were looted, a view which he choose not to mention or use to forward his agenda during his leadership at FHFA.
  4. Any logic for why RSX is trading at a 40% premium to NAV?
  5. Thompson was asked about timeline for end of conservatorships. She said she'd defer to Congress on that, but that many other parties would be involved. I don't know if she's just appeasing the audience, but that's a pretty lame answer for someone who has worked at FHFA for 8 years.
  6. I know some are excited about the actual legal relevance of this, but I'm not sure it's worth much. Is a court really going to just accept this after-the-fact declaration without depositions of many of the relevant players? Ultimately, we know that Treasury punted, not FHFA. So is Mnuchin going to provide testimony that he really would have agreed to end the conservatorships if he had more time, even though he did actually have the chance to set them on that path at the end of his term and he chose not to? Seems pretty weak. Separately, is there going to be an inquiry as to how many shares of GSE securities Trump & friends accumulated before this letter was written?
  7. Believe it or not, I have a net profit on GSEs right now. Not a good IRR, but life goes on. And yes, I'm a complete nobody. But you're on a value investing forum promoting chasing the past performance of someone who legitimately believes every conspiracy theory that your uncle shares on Facebook. Do you know how many crypto bros have gotten way richer than Kuppy that I "obviously" should have listened to based on a few good trades? As others have pointed out, Kuppy has blown up a few times already in the past and I don't know if he was deranged back then or if it is a more recent issue. Anyway, I've made my point. Good luck.
  8. Gregmal, I am going to upgrade your hero from politically motivated idiot to mentally unstable. I guess your logic is he had some good trades, so just assume he'll have some more. My logic says don't trust the stock picks of someone who lives in a fantasy world.
  9. FHFA Acting Director says they will continue to build capital. I guess that's better than the opposite, but the current capital plan is still a dead end. https://www.marketscreener.com/news/latest/Prepared-Remarks-of-Sandra-L-Thompson-Acting-Director-FHFA-at-the-2021-Mortgage-Ban---36710840/
  10. I'm not disputing that it sure seems like GSEs can be treated however the hell any POTUS wants, but securities laws would require any open market purchase program or tender to be announced in advance. Which means the prices wouldn't stay anywhere near 6% of par after such an announcement. All that said, I don't think financial engineering to maximize equity value is part of the plan here.
  11. You were asking if they might be currently doing it. I said no. Now you're saying they could do it in the future. Those are completely different things. Treasury has not given approval.
  12. They aren't even allowed to pay dividends, so of course they can't buy the securities. And especially without public notice.
  13. Of course they're not buying back preferred shares in the open market because: A) Conservatorship rules don't allow it B) Such a program would need to be made public before it begins.
  14. I have no doubt he has better returns than me lately. I don't do his style of swing trading anyway, so I am not following any of his trades closely and I used to follow his blog but not anymore. But set aside investments for a moment. The point about COVID is that he is still, to this day, on the side of the lunatic fringe saying that it is completely nothing AS A MEDICAL ISSUE. If he is so utterly wrong about something so basic, I find it hard to have much confidence in his judgement on anything else. It seems like he could be a parallel to Larry Jeddeloh, who was the Director of Equity Research at Leuthold for quite a few years. Now, I haven't seen any of his work in the past decade, but he has run TIS Group for many years and it turns out he is a batshit crazy conspiracy theorist and in the years that I saw performance on his separate accounts, they were quite poor. I have to believe that Jeddeloh had some talent to have been a partner at Leuthold, but it seems the craziness overruled any genius he might have had. So Kuppy may well have a very good knack for some things, but at the same time he is inexplicably divorced from reality on some things. Could be a recipe for crash and burn.
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