Just picked up 155 shares of FNMA AT 3.92 ! Reasoning to buy FNMA below !
Lets start off with Fannie Mae. We seem to be receiving a lot of questions why this stock is a must BUY!. FNMA (Federal National Mortgage Association Fannie Mae) is a government-sponsored enterprise chartered by the United States Congress to support liquidity and stability in the secondary mortgage market, where mortgage-related assets are purchased and sold. -Scottrade If you are unaware as to one of the causes of the recession in 2008, I will report that it was due to mortgage issues. People were taking out mortgages at an amount in which they could not realistically pay pack. FNMA would buy these mortgages from banks which would lead to FNMA having all these problems. In short when the market crashed, nobody had money to pay back all these loans and FNMA was riddled in DEBT. Of course the US government bailed them out but to this day they are still government controlled ( The US government bailed out FNMA with $116,149,000,000) . For those who were wondering, FNMA was worth 80-84$ at its HEIGHT! At its lowest FNMA was worth .20 A SHARE!!. Fast forward to 2013 and lucky for us our hedge fund manager at Hereitfirst Rudy Cortes bought 4000 shares of FNMA at $.50. The reason that this stock is a must buy is because FNMA only owes the government $2,308,000,000. That might seem like a large number but FNMA was given a $116,149,000,000 and has paid most of it off over the years. This is America, FNMA will be let go and when it does watch for this stock to run with the winds. Look at all the other companies that were let go, Ford,General Motors, Citibank, those companies are now not only surviving they are prospering!
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