Nov 20, 2007

Jim Rogers: Still short Fannie Mae and Freddie Mac

I'm still short those companies, they both have a long way to go as far as I'm concerned. Neither one has a clue what's on their balance sheets.

~ Jim Rogers, chairman, Beeland Interests, "Freddie, Fannie Shares Will Continue to Slide, Jim Rogers Says,", November 20, 2007

(Freddie Mac, the second-largest U.S. mortgage company, warned of a possible cut in the dividend and the need for additional capital. The worst housing slump in 16 years caused "significant deterioration'' in the third quarter that will continue through year-end, Freddie Mac said after reporting a net loss of $2.02 billion, or $3.29 a share, three times what some analysts estimated. )

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