Fannie Mae, Freddie Mac Worth 10-15 Times Current Value: Ackman

Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC)’s common shares would be worth about 10 to 15 times their current value, if shareholders win their lawsuits, believes Bill Ackman. The hedge fund manager, known for his aggressive activism, made his comments at the annual meeting of Entrust Capital, a New York firm that invests billions of client money in hedge funds. Pershing owns nearly 10% in the GSE’s common shares In November, Ackman’s hedge fund filed two 13Ds showing a nearly 10% stake in each insurer’s common stock. Pershing Square detailed…