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Fannie and Freddie

ET91
in Fund Discussions
This is not good news if you are a Fairholme fund investor or if you own a MF which is invested in Fannie and Freddie. https://finance.yahoo.com/m/c7c9f689-db97-3d47-a789-c29a30b8c52c/hedge-funds-can't-sue-over.html

I didn't see this topic posted.

Comments

  • dryflower
    I'm feeling sick.
  • [Deleted User]
    The user and all related content has been deleted.
  • dryflower
    Damage to FAIRX today is 12.98%.
  • [Deleted User]
    The user and all related content has been deleted.
  • dryflower
    No, no @Maurice. It's nothing like that. It's for real.
  • VintageFreakVintageFreak
    I am a FAIRX holder. Till the DEATH! I take my money and run every time. Like I've said before, I've never been to Vegas (which might change this year). I live on the wild side with the house's money in CGMFX and FAIRX.
  • VintageFreakVintageFreak
    dryflower said:

    Damage to FAIRX today is 12.98%.

    Basically back to square one YTD.
    Maurice said:

    Yikes! Haven't found any capital distribution news.

    Why would this trigger distribution? You think Jerky Berky will sell? No way. Everyone needs their WAMU. He will keep fighting.

  • davidrmorandavidrmoran
    I am glad to hear someone savvy here has stuck w/ Heebner. I wonder if anyone is still in FLVCX, and wonder where Soviero will surface.
  • SlowLane
    The Fairholme Focused Income Fund fared better than FAIRX: It was down 6.19% today and is still up for the year by 2.51%. FCOIX is managed by Bruce Berkowitz and he has a 6.76% holding in Fannie Mae Preferred which also tumbled today. FOCIX was up 32% in 2016. It was a good day to head for the exits.
  • VintageFreakVintageFreak
    For what interest it holds. Wonder what the next conference call will sound like

    http://www.fairholmefundsinc.com/Documents/PublicConferenceCall20161118.pdf
  • VintageFreakVintageFreak
    davidrmoran said:

    I am glad to hear someone savvy here has stuck w/ Heebner. I wonder if anyone is still in FLVCX, and wonder where Soviero will surface.

    It was easy. Sorry to sound like broken record. When you buy these funds, don't reinvest distributions and then forget about them unless and until the manager changes. Besides with CGMFX Heebner is shorting bonds. I was thinking of doing so myself a little.

    One problem is Heebner is well into is 70s. So, one day...

  • davidrmorandavidrmoran
    ooh, I would never not reinvest distributions.

    Lots of people are in their 70s, or close:) .
  • JohnChisum
    I wonder why all the interest in this Fund especially if you are near or at retirement? It's not very diversified and Bruce takes quite a few gambles.
  • dryflower
    For those who may not want to wait indefinitely for Morningstar to do the extremely complex calculation (or even to update the price for that matter) FAIRX is now down 2.35% YTD.
  • VintageFreakVintageFreak
    edited February 2017
    why does M* need to calculate the price ???
    Beats me why FAIRX NAV still not updated though.

    My "Direct to Fund" portfolio is not -ve YTD just because of FAIRX:-(
  • [Deleted User]
    edited February 2017
    The user and all related content has been deleted.
  • VintageFreakVintageFreak
    M* jokers. They STILL have not updated the NAV.
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