NeoSunTzu
3 hours ago
First, I defy ANYONE to prove with any contract, agreement, or amendment that the "government owns 80%" of FnF to be a technically correct statement. As far as I know, there is no such evaluation of the senior preferred shares, the liquidation preference, or the SPSPA agreement that has valued ANYTHING at a quantifiable 80% of ANYTHING; therefore, we must assume this is the oft repeated reference to the warrants.
Second, warrants DO NOT, HAVE NEVER, and WILL NEVER signify ownership ANYWHERE in the financial world; they only represent rights to acquire ownership, and anyone with any financial experience or financial acumen knows this or should know this, and I put Pulte in that camp. I completely understand that there is a narrative, this is a politically sensitive time bomb, and that Pulte may just be echoing this oft repeated narrative for political purposes - to avoid the headaches associated with the shareholder windfall narrative, but it also could be purposeful to set the stage and expectations for execution of the warrants where anything less than the 80% would be viewed by shareholders, courts, or other shareholder friendly parties as a win.
Finally, in NO CASE can the statement that "the government owns 80% of Fannie Mae and Freddie Mac" be considered a financially accurate, intelligent remark. It can only be viewed as subterfuge. The question is who is the subterfuge intended to fool: shareholders or anti-shareholders. Since there is no reliable way of determining which is the intention, the continuation of this narrative will ONLY have the effect of shareholders like Bryndon Fisher and others digging in to fight the warrants, and I for one am in that camp.
TightCoil
5 hours ago
Apr 9 HUGE
Go Fannie Mae - Go Freddie Mac
Recap of our PPS since Mar 7 which was Day 39 of over $5 when we were at $5.84. Then the next trading Day (Mar 10)) we went BELOW $5 to $4.91, but rebounded swimmingly the next Day (Mar 11) to $5.19 and hit $6.11 on Mar 14...
Apr 9 - $6.04 – 17,754,792 up 84c ( 16.15%) TODAY
Apr 8 - $5.20 – 12,114,769 down 47c
Apr 7 - $5.67 - 17,127,154 - (20 days above $5)
Apr 4 - $5.65 – 16,044,402 down 47c
Apr 3 - $6.13 – 11,688,776 down 44c
Apr 2 - $6.57 - 3,013,251 down 3c
Apr 1 - $6.60 - 6,043,923 up 28c
Mar 31 - $6.32 - 8,618,220 down 38 cents
Mar 28 - $6.70 – 5,985,439 down 31 cents
Mar 27 - $7.01 - 5,469,580 - up 9 cents
Mar 26 - $6.92 - 9,576,797 - down 39 cents
Mar 25 - $7.31 - 13,849,144 - up 21 cents
Mar 24 - $7.0879 - 16,707,951 - up 71 cents
Mar 21 - $6.38 - 8,510,618
Mar 20 - $6.25 - 8,037,839
Mar 19 - $6.03 - 8,071,667
Mar 18 - $5.65 - 10,339,547
Mar 17 - $5.82 - 9,309,100
Mar 14 - $6.11 - 16,518,200
Mar 13 - $5.50 - 5,951,400
Mar 12 - $5.65 - 9,589,600
Mar 11 - $5.19 - 10,480,900
Mar 10 - $4.91 - 16,783,700
Mar 7 -- $5.84 - 23,007,600