Fannie Mae: Ouch!
On Friday, we noted that Fannie Mae Looks Like Hell. In the weekend linkfest, we noted the Fortune article about Fannie Mae, as well as out own "Sell" on the stock.
The emails from numerous readers were fascinating. I learned some things about my ancestry that turned out to be less than complimentary; I got to imagine several hypothetical yoga positions that, unless one is amazingly flexible, appear to be impossible. I was also informed that I had no insight whatsoever into "how the trading of stocks works." Oh, and, it turns out that according to one emailer, I am "f$%^ing clueless." My favorite was the one suggesting I should get cancer and die.
The closest thing to legitimate criticism came from B, who this morning noted it was "better to be lucky than smart."
Indeed.
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For those people who are still interested, despite the myriad of issues with my ancestry, intellect, and "f$%^ing cluelessness," I believe covering half of any short positions today is the prudent approach to such an outsized move -- 10 points in 2 days . . .
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Tuesday, November 20, 2007 | 10:16 AM | Permalink
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» Poole: Fannie, Freddie `Insolvent' After Losses from The Big Picture
This mornings must read article is Bloomberg's summary of former St. Louis Federal Reserve President William Poole comments on the GSEs:Borrowing at Fannie Mae, the U.S. government-sponsored mortgage company, has never been so expensive and it may not ... [Read More]
Tracked on Jul 10, 2008 9:54:17 AM
Comments
fannie and freddie down 20+%...at least the dow is up over half a percent....thank goodness for the ppt!
Posted by: jopo | Nov 20, 2007 10:32:46 AM
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