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Caveat Emptor: Why You Shouldn’t Jump (Back) in on Fannie and Freddie


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In this Issue Brief, First Principles CEO Doug Dachille examines the valuation of Fannie Mae and Freddie Mac preferred shares and cautions investors considering making an investment in the GSEs.

The issues currently facing investors were foreshadowed in an Issue Brief published in September, 2008 titled “The Aftermath of an Improperly Aimed Bazooka”, which can be found in the Archives of the Perspectives section of the FPCM website.

First Principles Market Issues and Analysis - Vol VIII No 1 (pdf)