Bove backs off Fannie Mae, Freddie Mac preferred shares after latest drama

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Michelle deBoer-Jones
Published on
fannie mae

The drama involving Fannie Mae and Freddie Mac continues to develop in what has been a fast-moving chain of events over the last couple of weeks. The news has generally been good as progress was finally being made on an issue that spans the last 10 years. However, a new development has finally given well-known bank analyst Dick Bove of Odeon Capital pause. He now believes the GSEs’ preferred shares are fully valued after touting them for years.

Q2 hedge fund letters, conference, scoops etc

fannie mae
Image source: Fannie Mae

FHFA does an about-face

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Michelle deBoer-Jones is editor-in-chief of Hedge Fund Alpha. She also writes comparative analyses of stocks for TipRanks and runs Providence Writing Services. Previously, she was a television news producer for eight years, producing the morning news programs for NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spending a short time at the CBS affiliate in Huntsville.