Wednesday, August 6, 2008

Freddie Mac (FRE)

Freddie Mac (FRE) has been in the news the past few of days. On Tuesday, the NYT reported that the CEO continually pursued risky mortgages aggressively. Today, Bloomberg reported that Freddie Mac "slashed its dividend at least 80 percent after posting a quarterly loss that was three times wider than analysts' estimates."

 

These matter not to us. Freddie Mac went on a Sell signal back in October 2007 when it was well over $40; It generated another sell signal in early July over $16.  

 

 

 

At Freddie Mac, Chief Discarded Warning Signs
CHARLES DUHIGG
NYT,  August 5, 2008
http://www.nytimes.com/2008/08/05/business/05freddie.html

 

 

 

Freddie Posts Loss, Cuts Dividend as Slump Deepens
Dawn Kopecki
Bloomberg Aug. 6 2008
http://www.bloomberg.com/apps/news?pid=20601087&sid=a8m_9i9.5MeE

 



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