Solid case for the GSE thesis. Burry's 3-5 year timeline makes sense given the capital buffer requiremnts and regulatory path ahead, but Ackman's caution about shareholder rights litigation is the real wildcard here. The fact that 62% of mortgages depend on these entities probly makes the IPO inevitable eventaully, timing is just brutal to predict.
Solid case for the GSE thesis. Burry's 3-5 year timeline makes sense given the capital buffer requiremnts and regulatory path ahead, but Ackman's caution about shareholder rights litigation is the real wildcard here. The fact that 62% of mortgages depend on these entities probly makes the IPO inevitable eventaully, timing is just brutal to predict.