A must watch, superb, long-form interview with Secretary Bessent by the All-In crew in which Fannie and Freddie are discussed as potential core assets in a U.S. sovereign wealth fund, which I discuss below: The only credible scenario where Fannie Mae and Freddie Mac (“F2”) become core assets of a sovereign wealth fund in the @realDonaldTrump administration is a world in which they emerge from conservatorship respecting the shareholders’ place in the hierarchy of claims. Those that suggest the government will simply convert their already paid off senior preferred stock (“SPS”) into common stock diluting shareholders are missing a few facts: (1) The SPS has already received $301 billion, $25 billion more than it was contractually entitled to receive, and the excess $25 billion was paid to the government more than five years ago. In other words, the SPS has been fully retired with interest plus a $25 billion overpayment, considerably more in today’s dollars. (2) Those who argue that the government won’t forgive an asset that currently sits on its balance sheet (as the government did not credit the cash flow sweep payments against the SPS at the time they were paid) have not considered that the government, as the owner of penny warrants on 79.9% of the common stock of both companies, will recover 79.9 cents of every ‘forgiven’ dollar of senior preferred. When you wipe out a liability of a company in which you own 79.9% of the common stock as the residual claimant, you immediately recover 79.9% of the erased liability, in this case, in the increased value of the government’s warrants. (3) The future value of the $25 billion overpayment to the SPS by the time of F2’s exit from conservatorship is of greater future value than the 21.1% of F2 that will go to public shareholders from the ‘forgiven’ SPS, which fully compensates the government for any ‘leakage’ to shareholders from the public’s 21.1% ownership. (4) If the government massively dilutes shareholders by converting the SPS to common stock and does not credit the $301 billion cash flow sweep payments and $25 billion overpayment, the trading values of F2 will be permanently impaired, making F2 a poor core asset for a sovereign wealth fund. What investor, institutional, retail or otherwise will assign a fair value to a company controlled by the government which wiped out the previous investors in the company? F2 common stock is held by many millions of retail and institutional investors who are @realDonaldTrump supporters. The President has a track record in looking after his constituents and keeping his promises, most notably here in a public letter in 2021 committing to F2’s release from conservatorship. I would not expect him to act differently here. Lastly, Secretary Bessent’s idea of making Fannie and Freddie core assets of a new U.S. sovereign wealth fund is a superb one. Over the very long term, Fannie and Freddie represent a royalty on first mortgages secured by the US housing market, which is a low-risk, high risk-adjusted return investment that will generate large and growing dividends that can be invested in other sovereign fund assets. The long term returns on F2 will significantly exceed the cost of U.S. Treasurys enabling our country to deleverage over time. $36 Trillion of debt and growing is a frightening liability for the future. We can address our country’s solvency problem by reducing spending and government waste, but also by increasing the asset side of our country’s balance sheet. F2 can be an important part of the solution. And the stocks of both companies will trade at a substantially higher price with the US government shares no longer being part of the overhang. Our model assumed the government would be selling its shares ratably over the five years after emergence from conservatorship.

BREAKING: SpaceX's IPO is expected to create 4,000 new millionaires, including some cafeteria workers whose compensation packages include employee stock options, per Bloomberg.

𝗗𝗼𝗻𝗮𝗹𝗱 𝗝. 𝗧𝗿𝘂𝗺𝗽 𝗧𝗿𝘂𝘁𝗵 𝗦𝗼𝗰𝗶𝗮𝗹 𝗣𝗼𝘀𝘁 - 𝟬𝟵:𝟯𝟬 𝗔𝗠 𝗘𝗦𝗧 𝟬𝟲.𝟭𝟬.𝟮𝟲 Wow! CITI was ranked Number 1 in topping M&A Advisory Market by Value in Q1. Congratulations to Jane F and ALL of her great people. They’ve worked really hard! BIG comeback for CITI!!! President DONALD J. TRUMP

$FNMA $FMCC Enjoy @realDonaldTrump's "Trillion Dollar" hat trick montage! 3 trillion dollar references to Fannie Mae & Freddie Mac in less than a week. We have officially entered into the phase of conditioning the public for what's coming. Keep doubting if you like.😊 GLTA.

@cvpayne Mr Turner rang the opening bell today. If you ever interview him, please ask him about this post from over a year ago… Thanks!

8x in 30 years, Samsung provided opp. to buy common stock at TBV When to sell? One option is never. From the bottom of the 1998 to today, Samsung returned about 24.6%/yr, with the stock up 470x... Now, I have a stock here in America that is providing a similar opportunity $FNMA

Democrats overwhelmingly vote late and by mail — but only Nithya Raman Democrats, not Karen Bass Democrats. Just totally insane stuff.

The psyop men fall for is, “You can have kids anytime.” While true, the other side of this coin is, “Every day you delay kids is a day you don’t get with your grandkids.”

Sometimes investing is really that easy. open.substack.com/pub/michae…

Now we're talkin'! Watching the show now! But you still gotta "break that Fannie Mae news together" with @pulte.

$FNMA $FMCC Only audio was available earlier when @realDonaldTrump addressed the Fannie Mae & Freddie Mac question on Air Force One. Here's the corresponding video as well. Final statement: "I could’ve sold it in my first term for one tenth of what it’s worth now...and I didn’t wanna do it. NOW I think we...you know...we would consider an IPO, yeah. In my humble view, this is Trump‘s typical Art of War routine where he keeps everyone guessing. But the tea leaves I continue to read represent the hill I’m willing to die on. 1. @BillAckman has met with the administration repeatedly and has publicly (and confidently) laid out his plan. He also launched his own IPO where he’s indicated that he’ll reinvest funds raised to replicate current holdings. He also just launched a Trump Accounts endorsement project with Charles Schwab. 2. The administration has been meeting repeatedly for months with attorneys and bankers to make sure all their ducks are in a row. 3. @RobinhoodApp overrode their OTC protocols last week to make an exception in adding F2 to their platform. Random? No way. Robinhood also has exclusivity as the broker and soul initial trustee for the Trump Accounts. 4. Berkshire Hathaway took an $8.5 billion position in a home building company. Bullish much? 5. A pro rate cut Fed Chair who economically aligns with Trump now presides in Warsh. 6. Capital requirements are likely to be reduced when recommendations are made next month regarding Trump's March EO on reviewing regulatory constraints. 7. @SecScottBessent wants to improve the asset side of the balance sheet...and there's too much money to be made for the Sovereign Wealth Fund for Trump not to act. Timing is everything. He won’t steal Elon’s SpaceX thunder. But what better time than the country's 250th birthday to tie in an F2 public offering on the way to restoring the American Dream? It would be the production and pageantry he lives for. Just sayin'. 8. @pulte continues to say that all options are on the table & that they’re locked, loaded, & ready to go. And we're still waiting for he & @cvpayne to "break that Fannie Mae news together ". 9. The Texas Stock Exchange is going live next month...for whatever that's worth. Cue the doubters and never gonna happeners. Troll away. Weary and fatigued shareholders...I get it. I hear you. I'm one of you. It's been a grueling ride. Do I get frustrated every time F2 is referred to as a trillion dollar company while we trade like penny stocks on pink sheets?Yes! One trillion percent! But the goaline is close. Trump isn’t gonna fumble the opportunity to solidify the crown jewel in his his legacy of restoring housing. When? Who knows. But it's coming...and it will be swift. Have a great weekend! GLTA

$300,000 could buy 29,440 shares of $AGNC at today's price. With a $0.12 monthly dividend (14% APY), that's $3,532/mo just in dividends. Here's the kicker: With a base of $300,000 and a $3,532/mo reinvestment and a 14% APY compounding monthly, in 10 years, that $300,000 is worth $1,206,000. In 20 years? $4,850,000. This is completely ignoring the fact that you would be working to earn along the way, dividends may increase, and the share price is on the rise. Now, most people don't have $300,000 lying around (hence the college loan), but if you grind, you could work to earn that in the same time it would have taken you to complete your 4-year degree. Would it take discipline? Thrift store shopping? Rent sharing or living with parents? Likely, but it can be done. So - is the $300,000 "education" worth it?

Can someone please explain to me why Democrats are mad about this