It’s crazy that both Bill Ackman and Michael Burry got super bullish on $FNMA and $FMCC and both wrote long form posts and pitches on the two GSEs Fannie Mae and Freddie Mac are each down around 60% in the last 6 months Burry and Ackman have been getting creamed along with everyone who followed them into the trade. Even great investors get it wrong or get the timing wrong at a minimum