FNM FRE Opinion September-04-09
Fannie Mae (FNM Quote) and Freddie Mac (FRE Quote) shares were up big on unusually heavy volumes Friday, even though few sane people believe the stocks have much value.
"I think they're worth zero," said Malcolm Polley, CIO of Stewart Capital Advisors, a $900 million money manager near Pittsburgh. "It's the same with AIG (AIG Quote). It's ridiculous that people are allowed to trade in these securities. They're being treated as lottery tickets."
http://www.thestreet.com/_aol/story/10594877/1/fannie-freddie-shares-rise-on-big-volume.html?cm_ven=AOL&cm_cat=Free&cm_pla=Feed&cm_ite=Feed
"I think they're worth zero," said Malcolm Polley, CIO of Stewart Capital Advisors, a $900 million money manager near Pittsburgh. "It's the same with AIG (AIG Quote). It's ridiculous that people are allowed to trade in these securities. They're being treated as lottery tickets."
http://www.thestreet.com/_aol/story/10594877/1/fannie-freddie-shares-rise-on-big-volume.html?cm_ven=AOL&cm_cat=Free&cm_pla=Feed&cm_ite=Feed
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