Commentary on the Ackman/Bessent Doubleheader

And a Word of Caution Regarding Recent GSE Common Stock Trading Pattern

Today, Bill Ackman presented his slide deck with commentary on Pershing’s valuation of FNMA and FMCC, pro forma for the recap/release expected during Trump 47. You can find the presentation here.

As well, Treasury Secretary nominee Scott Bessent fielded questioning from the Senate Finance Committee en route to an expected confirmation recommendation to the Senate (and confirmation by the full Senate). His hearing can be found here.

Please find below my commentary on these two important events for GSE investors. This commentary will appear for paying subscribers. I encourage all of my free subscribers to upgrade to paid to support my newsletter.

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