Michael Burry Reveals 'Sizable' Stakes In Fannie Mae, Freddie Mac: 'Toxic Twins No More'

Benzinga_recent_news12-09

Famed investor Michael Burry, best known for his prescient bet against the housing market portrayed in “The Big Short,” has revealed he holds “sizable positions” in mortgage finance giants Fannie Mae ...

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He projects that an initial public offering (IPO) could price shares between 1 and 1.25 times book value.\nOnce listed, he expects the shares to trade at 1.5 to 2 times book value within one to two years. “Once each company is released from capital restraint by their IPOs, I expect growth to accelerate naturally,” Burry wrote.\nSee Also: Michael Burry Warns AI Boom Is Repeat Of 2000’s Dot-Com Bust After Revealing $1 Billion Bearish Bet On PLTR, NVDA\nThe investment marks a sharp pivot for Burry, who noted in his post that he had warned of the GSEs’ “foreboding history” and “fragility” as early as 2003.\nHe acknowledged their past failures, including the 2008 crisis when they “tempted fate and lost,” and a 1981 insolvency.\nHowever, by labeling his new thesis “Toxic Twins No More,” Burry signals a belief that the entities have sufficiently rehabilitated to warrant aggressive investment.\nBurry also speculated that Warren Buffett's Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) could take a “substantial position” in the mortgage giants if they go public. Berkshire previously held a stake in Fannie Mae before the 2008 crash.\nThe timing aligns with reports that the Donald Trump administration may launch IPOs for the pair later this year. Fannie and Freddie currently guarantee roughly 62% of outstanding U.S. mortgages, underpinning the vast majority of the American housing market.\nRead Next:\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nPhoto courtesy: Tada Images / Shutterstock.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.11","shortVersion":"4.35.11","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2590397740","isCrawlerRequest":true}