Bove Releases More Data On Fannie Mae Investment Idea

Richard Bove released the first update in a series of reports analyzing Fannie Mae as a potential investment, highlighting strong growth that would be attractive if it weren’t for the underlying political risk that investing in Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) entails. Fannie Mae earnings “Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) reported third quarter earnings of $8.7 billion. This was 4.8x greater than the profits reported in the third quarter of 2012. It was the seventh consecutive quarter of positive earnings,” wrote Bove, who is vice president of equity research at Rafferty Capital Markets LLC. He…