Banking, finance, and taxes

Freddie Mac Moves Into Value Investor Circle (FRE, FNM)

We won’t rehash the credit malaise that has punished shares of Freddie Mac (NYSE:FRE) and Fannie Mae (NYSE:FNM).  You’ve already seen it, heard it, felt it, and maybe lost money over it.  But what is interesting besides its most recent infusion and besides its recent two-day recovery is that a vocal value investment manager has stuck a stake in the ground and made the argument for the long-term value in Freddie Mac (NYSE:FRE).

Yesterday at the Third Annual Value Investing Congress in New York City, value investor Rich Pzena of Pzena Investment Management made this case.  In fact, this was one of the two most discussed stocks by attendees after the conference based upon the speaker presentations yesterday. Pzena didn’t seem like he was making the call for a day trade because he often takes screens for value over the longer term. 

As with all long-term calls, they are likely to see ups and downs.  The mortgage malaise and liquidity crunch (or crisis) is not over.  Pzena wouldn’t tell you that you won’t see any more bad headlines.  But he’s made his call for long-term value, and this was one of the more buzzed-about calls yesterday.

Freddie Mac (NYSE:FRE) is up right before the market open today by 3% at $30.35, and its 52-week trading range is $22.90 to $69.85.

Jon C. Ogg
November 29, 2007

The #1 Thing to Do Before You Claim Social Security (Sponsor)

Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.

A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.

 

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.