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EssentialThe Essential Conversation

A Sleeping Giant: Opportunity in Fannie Mae

Featuring Whitney Tilson and Gabriella Heffesse

Jun 17, 2020 • 37 minutes

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Essential

The Essential Conversation

A Sleeping Giant: Opportunity in Fannie Mae

Whitney Tilson & Gabriella Heffesse take a deep-dive into Fannie Mae, the mortgage giant that securitizes just under half of all mortgages in the US.

Featuring Whitney Tilson and Gabriella Heffesse

Jun 17, 2020 • 37 minutes

We are now more than a decade past the GFC, and Fannie Mae is finally exiting conservatorship – a legal concept where a guardian oversees the finances of an individual or company. Whitney Tilson, founder and CEO of Empire Financial Research, and Gabriella Heffesse, chief operating officer of ACG Analytics, take a deep-dive into Fannie Mae, the mortgage giant that securitizes just under half of all mortgages in the United States. They analyze the investment opportunity Fannie Mae presents, comparing the junior preferred shares to the common tier equity, and the different risk/reward proposition each level of the capital stack offers. Tilson and Heffesse review the history of Fannie Mae, from its being placed into conservatorship to the "net worth sweep" to the ongoing attempts to implement a "recap and release" plan. In addition, this serves as a timely case study on the multi-year playbook for government bailouts and conservatorship for national champion companies that could once again show up in Washington with outstretched hands and empty pockets. Filmed on June 10, 2020. Show More

The Essential Conversation is the world's premier financial-market-focused conversation series. The smartest people in markets, finance, economics, and business engage in deep-diving discussions about the global macro landscape, generating actionable takeaways that can help your decision-making process. Tune in to peer-to-peer conversations between the brightest minds in the investing world, and tune up your portfolio.

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The Essential Conversation is the world's premier financial-market-focused conversation series. The smartest people in markets, finance, economics, and business engage in deep-diving discussions about the global macro landscape, generating actionable takeaways that can help your decision-making process. Tune in to peer-to-peer conversations between the brightest minds in the investing world, and tune up your portfolio.

More Episodes

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