Karnak doubles up on FNM, FRE, lights match to UNG

Posted on Nov 12, 2009 by WHC Bassetti in Letters

Yesterday, end of day we bought FNM and FRE  -- actually we blame it on our evil twin Karnak who does all the things the rational professor in us tells his student not to do.  Anyway Karnak felt that the government can't sink these mortgage beauties and so the ambush perpetrated by that New York nonentity, Keefe, Bruyette, Woods represents a buying opportunity.

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