Maglan Capital Up 13% YTD Goes Long Fannie And Freddie

Maglan Capital has joined the ranks of hedge funds that think Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) are going to pay out, even if it takes a few years of winding through the courts before it happens. In a June 6 letter to investors, Maglan Capital chief investment officer Steven Azarbad and president David D. Tawil said that the fund had bought Fannie Mae and Freddie Mac common stock in early April.

“Maglan began investing after concluding that the...