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David Sims
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I am a Certified Public Accountant and currently work as a Senior Financial Analyst at a Fortune 500 company. In the past, I worked as a Series 7 licensed stock broker, auditor at a Big 4 accounting firm, general ledger accountant and systems administrator at a small private company. As you can... More
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  • Stocks: Election Results Push Fannie Mae Common Up 3 comments
    Nov 7, 2012 10:11 AM | about stocks: FNMA.OB

    The overall market may be sinking, but Fannie Mae (FNMA.ob) common stock appears to be unlocked from weeks of stagnant trading. Already up over 5% this morning, the stock appears to be moving the opposite direction of the overall market. The Dow has collapsed over 200 points this morning.(click to enlarge)

    With Obama's relection he is now free to move forward with a plan for housing, which may include an AIG-style restructuring, similar to the one suggested by Jim Millstein, former Treasury official and architect of the AIG bailout.

    AIG stock has recently stumbled, but the Treasury is already at a break-even point and expected to sell their remaining stake by the end of the year. This should create an opportunity to move on with ending the GSE bailout.

    Disclosure: I am long FNMA.OB.

    Additional disclosure: Long Fannie Preferred stocks.

    Themes: housing, obama, election, fannie mae Stocks: FNMA.OB
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  •  
    Hi David,
    when do you see the situation being resolved? 2013?
    Michel
    9 Nov 2012, 05:35 PM Reply Like
  •  
    First full year of profitability since 2006, was it? After AIG is completely sold, one of them will be next is my opinion.
    9 Nov 2012, 06:28 PM Reply Like
  •  
    Okay, which one in your opinion, and why not both?
    13 Nov 2012, 11:29 AM Reply Like
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