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David Sims
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David Sims is the managing member of RidgeHaven Capital LLC. We prefer distressed equities and value investing. The firm was established to manage wealth with an eye on fundamental value, but also an understanding of technical trends and market behavior. David is a Certified Public Accountant... More
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  • Stocks: Election Results Push Fannie Mae Common Up 3 comments
    Nov 7, 2012 10:11 AM | about stocks: FNMA

    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 OTCQB:FNMA.

    Additional disclosure: Long Fannie Preferred stocks.

    Stocks: FNMA
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Comments (3)
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  • michelodu
    , contributor
    Comments (41) | Send Message
    Hi David,
    when do you see the situation being resolved? 2013?
    9 Nov 2012, 05:35 PM Reply Like
  • David Sims
    , contributor
    Comments (805) | Send Message
    Author’s reply » 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
  • michelodu
    , contributor
    Comments (41) | Send Message
    Okay, which one in your opinion, and why not both?
    13 Nov 2012, 11:29 AM Reply Like
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