We're posting up notes from the Sohn Investment Conference in New
York, produced in partnership with Bloomberg LINK. Next up is Bill Ackman of Pershing Square who pitched going long Fannie Mae (FNMA) and Freddie Mac (FMCC).
Bill Ackman's Sohn Conference Presentation
IDEA: Fannie Mae (FNMA), Freddie Mac (FMCC). $3.89 now. Same pitch he gave at CSIMA a few weeks ago. Says his slides will be online. Fannie and Freddie were "stolen from investors."
Should recap it, do like AIG case, get the government out of it. Say full taxed net income could be $17 per share. Need to raise $183B of capital, which you get in 7-10 years from their net income. PT: $23 stock, $47 on bull case.
Be sure to check out the rest of the presentations from the 2014 Sohn Investment Conference.
Tuesday, May 6, 2014
Bill Ackman On Fannie & Freddie: Sohn Conference Presentation
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