No. of Recommendations: 0
I'm convinced the downside risk is zero.
I cant see how this stock is not worth $60 by 2021 with a present book value close to $70 and....
1) $17 billion in defferred tax assets
2) undervalued mortgage backed securities in their portfolio
3)little debt
4) under utilized insurance channels due to government oversight
5) lots of area of potential growth including potentially the entire FannieMay mortgage insurance business which the government is going to exit
6) historic return on equity of over 10% (any ROE above 7% get a company to price to book of 1 at least


I'm not saying this is going to be a 10 bagger but I cant see this being under $60 in 2021 and I've tried to play out all the scenarios in my head.
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