FNMA posted more profit than W. Bufett's Berkshire Hathaway firm in 2012.
What was the most profitable insurance company last year? It wasn't Berkshire Hathaway. it was not American International Group. It is? Fannie Mae, the government-backed company that insures mortgages against default. Fannie made $17.2 billion record profit last year, versus Berkshire Hathaway's $14.8 billion profit. Fannie was the third-most profitable financial firm in 2012, after JPMorgan Chase and Wells Fargo. But this year, Fannie's earnings could exceed even those of JPMorgan and Wells Fargo.
BERKSHIRE HATHAWAY 2012 NET PROFIT 14.8 BILLION DOLLARS.
FNMA's NET PROFIT 17.2 BILLION DOLLARS IN 2012
Yet Berkshire Hathaway is trading at an all-time high and FNMA is 75 cents. What's wrong with this picture? Is it just too many incredibly and unbelievably stupid people own this stock and are too stupid to see what they have or is it something else? Anyway, these morons are giving the people with a brain good buying opportunities...so buy away! First quarter earnings will be billions and billions; starting with the11 billion paid to them by BofA. Fannie has also said profits are higher than even they expected!
This stock will go up and go up a lot! Just need to weed out the morons.
Sentiment: Strong Buy