Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (36924)	8/2/2003 6:54:37 PM
From: Ramsey Su	Read Replies (1) \| Respond to of 74559

Maurice, I understand in NZ they give out engineering degrees to anyone who wants one, even those with no math background. Do you realize that none of your theories ever have any data to back them up with, aside from the biases that developed somewhere along the way? Putting a few hundred words randomly together is not going to cut it anymore. As a friend, I tolerate your mindless rants but I am not going to accept them in a debate. I do excuse you for having to think while hanging upside downunder but when are you going to realize you are dead wrong about 90% of the time. That does not mean you are correct 10% of the time, it just meant no one can understand what you are talking about. Here are some examples dating back many years. You have been repeating the same gibberish for 6+ years now. Message 1185217 Message 1272890 Message 2563867 Message 2563135 ............... Maurice, you need help. I can refer you to a few good doctors. <gggggg>

To: Maurice Winn who wrote (36924)	8/2/2003 7:00:07 PM
From: Ramsey Su	Read Replies (1) \| Respond to of 74559

Maurice, seriously, I am very concerned that while we have now seen numerous bearish articles about this bond sell off, I have yet found one article from the bull camp explaining why everything is copacetic. Ramsey

To: Maurice Winn who wrote (36924)	8/6/2003 11:59:51 PM
From: Pogeu Mahone	Read Replies (1) \| Respond to of 74559

from CFZ post by mishadlo Fannie Mae's Loss Risk Is Larger, Computer Models Show By ALEX BERENSON nytimes.com Fannie Mae, the giant mortgage finance company, faces much bigger losses from interest rate swings than it has publicly disclosed, according to computer models used by the company to estimate the value of its assets and debts. At the end of last year, the models showed that Fannie Mae's portfolio would have lost $7.5 billion in value if interest rates rose immediately by 1.5 percentage points, internal company documents provided to The New York Times indicated. At that time, the market value of all the assets on Fannie Mae's books, minus all the company's debts, was about $15 billion. So it would have lost nearly half its market value from such a sharp increase in interest rates, according to the models. [...] The models were provided to The Times by a former Fannie Mae employee, in return for assurance that he not be identified. The company's chairman, Franklin D. Raines, responding to a question at a news conference last week, said Fannie Mae did not depend on the market value of its portfolio to judge the success of its business. Asked whether Fannie Mae constructed such estimates weekly, he did not reply. In interviews yesterday, executives at Fannie Mae acknowledged that the company estimates the value of its portfolio weekly, though it discloses such information to investors only once a year. The models provided to The Times are several months old, the executives said, and present an incomplete and misleading view of Fannie Mae's finances. They added that Fannie Mae hedges its risks properly and discloses them fully to investors. "There is no reason for anybody to be worried about the company," said Peter Niculescu, Fannie Mae's executive vice president for the mortgage portfolio. "We are very happy, comfortable, and proud of our performance this year in what has turned out to be a very volatile interest rate environment." Mr. Niculescu declined to say whether Fannie Mae's portfolio had gained or lost value this year.