Fairholme Fund FAIRX
Fannie Mae 4% of FAIRX investments
Freddie Mac 3% of FAIRX investments
i can't tell what the total assets
the following is from fairholme's july 30th newsletter -
The Fund’s latest investments in the recovery of homeownership are in the preferred stocks of Fannie Mae and Freddie Mac. Your current mortgage may be backed by Fannie or Freddie – about 60% of new mortgages are. Millions of families depend on them to lower the costs and increase the availability of homeownership. In times of stress, Fannie and Freddie stand to ensure the continued functioning of our housingmarket. Their twelve thousand employees do yeoman’s work helping to preserve a cornerstone of the American dream.
The Fund was able to purchase the preferred stocks of Fannie and Freddie near one-fifth of liquidation values – a significant bargain thanks to market predictions of U.S. Government agencies expropriating their assets. We see them differently. Fannie and Freddie are successful, publicly traded, shareholder-owned companies just like AIG and Bank of America. Shifting political winds can change their futures, but not alter their pasts.
The Fund has filed complaints in the Court of Federal Claims and the U.S. District Court in Washington. In our suits, we seek nothing more than the enforcement of existing contractual rights, which require the payment of dividends to Fannie and Freddie preferred shareholders. Our arguments are based on fundamental principles. In America, property ownership is a sacrosanct freedom, guaranteed by our Constitution. In America, we follow the rule of law, not the rule of the crowd. In America, profitable companies honor contracts.
The advantages of our long-term focused investment approach are most evide
Qualification: I am no chart expert either but I am trying to learn what I can
I think they will fill or close the gap that exists from 4.61 to 4.66 from Thurs open. They usually close gaps as they did on Tues Sep 3. gapped from 4,47 to 4.62 at the open but they had closed or filled the gap at 4.44 by 1:04 pm EDT. At least we have something to watch tomorrow. glta
Yes they are aggresive but NSN had the lowest bid in the lastest China Mobile offering so something tells me NSN is more aggressive and better positioned.
Our copper metallic mesh on PET substrates is becoming an ideal method for EMI shielding of transparent substrates, in particular windows. Currently there is no adequate solution to EMI shielding of office and residential buildings for protection from threats ranging from cyberwarfare to cyberterrorism.
Simultaneous with its continuing efforts on the EZDX transaction, Woodrock also advised us to extend our efforts to raising money directly through the parent company, Applied Nanotech Holdings, Inc. As a result we decided that, in addition to raising money through the EZDX subsidiary we will enlarge our efforts to raise money directly for APNT, including for the sector of printed electronics. Woodrock is developing a separate investment memorandum around printed electronics and will dedicate an increasing portion of their efforts in this direction. Raising money directly through the parent company offers certain advantages vs. the subsidiary approach, such as giving us the choice of retaining complete ownership and control of our sensor technology.
In terms of streamlining operations, we are no longer able to support the overhead of EZDX. While sensor-related revenue generating projects continue, Alan Jernigan is no longer the CEO of EZDX, but rather CEO designate. He will return to paid employment, if or when a Board approved transaction is funded, assuming he is still available. In the meantime, Alan continues to pursue and cultivate funding activities on his own for the EZDX transaction through leads that he personally has developed independently from Woodrock.
President Obama has done nearly as much to save capitalism in the US as Roosevelt did. The difference is that money has much more power in Washington now.
Republicans no longer even pay lip service to speak of for capitalism/markets. Their legislative actions are all for crony capitalism and Plutocracy reflecting the interests of their donors. The economy is getting more and more distorted since regulated capitalism/markets is the state of the art economy.
Consideration of immigration bills by Congress may be delayed now by budget battles and Syria. What is interesting about the immigration bills is the massive increase in visa workers the corporations have lobbied for and gotten so far. It adds up to millions over a few years. Yet there is no evidence of labor shortages except here and there - eg, skilled machinists seem to be short.
In the next few years most IT - Information Technology - workers will be offshored by the shift to "cloud" technology. The trend to manufacturing automation is accelerating and moving downward in organization size. It's ever cheaper and more flexible. The manufacturing era that supported Detroit is NEVER coming back.
Most, maybe all, of you guys on the right here are ROWG's - Raging Old White Guys. You are left over from when you were in your best days, maybe your thirties. A few are left over from 1863, reliving Pickett's Charge. You are not of this world at all If you get what you want you would be among the first to be swept away. If you want poor, old, and sick people just buried why would you escape? And why would we feed Dixie? That's a good question, actually.
I agree, INO has many vaccines in the pipeline that are moving forward on so many levels. When each one passes phase II & III the share price will double.
#$%$ is there to talk about? Some company that's only corporate activities are in court for all we know. A sale could be a year or more away for all we know. Plant idle the most profitable months...#$%$ what the courts say unless SYNM get awarded a large chunk of money, but that ain't happenin anytime soon either!
With all the bad news already out it looks a strong buy to me. Bear in Mind company is fully funded until 2017 enjoying strong support rom the japanese. I foresee no financial problems for the time being
Sentiment: Strong Buy
I believe the "Gravy" as you put it will allow scientists the latitude necessary to finally begin working in earnest on HESC therapies, the last hurdles have been overcome regarding the ethical issues that have created such a strong barrier for some folks!!!
Your comment about my "short thesis" is like saying after Lincoln's assassination: "other than that, Mrs Lincoln, is everything okay?"