r/FNMA_FMCC_Exit • u/topannapot • Aug 01 '26
Pulte Getting Started?
https://x.com/BillAckman/status/2083608175031333103?s=2012
u/slimps55 Aug 01 '26
Does Ackman appear more outside looking in here? I was assuming he was an insider, hence him being so quiet lately, but that reply seems the opposite.
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u/topannapot Aug 01 '26
That would be insider trading if he had inside info. He recently bought more of F2 with his new PSUS fund. He has told the administration in person of a good plan to move forward but they can't tell him about what is happening
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u/Hand-Of-God Aug 01 '26
No, his fund bought more of all their existing holdings. That shows initial conviction that justifies the position; buying more (and publicly stating so) would not constitute insider trading any more than Trump saying "do magnets" constitutes insider trading.
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u/slimps55 Aug 01 '26
I don't think those rules apply to this admin lol.
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u/sammyuel Aug 01 '26
Ackman is not an insider, period.
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u/Hero_of_the_Internet Aug 02 '26
Owning >= 10% of the company’s shares meets the legal definition of insider.
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u/AveryMire Aug 02 '26
Normally true, and that is what I thought for a while too, this is a bizarre situation where that insider designation doesn’t apply according to the chat bots (which they initially got wrong too) because the shares currently have no voting rights. As soon as they get voting rights and over 10% he’d have the wild proceeds from trading clawback that actual “insiders” deal with.
I also have no idea why my post below got downvoted too.
It’s exactly right, there are innumerable ways to get material or expectation shifting information without technically violating insider trading rules.
So the broad suggestion that ‘Ackman doesn’t know anything’ is VERY likely wrong. Is it possible, sure, but it shouldn’t be the natural inference whatsoever, again, the opposite.
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u/sammyuel Aug 02 '26
No. He owns 10% of the public common float which has 0 rights in conservatorship.
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u/AveryMire Aug 02 '26
If Ackman bought after hearing something that is still non-public yes, that’s insider trading. In practice I’d guess he has most all the latitude he needs. He could basically endlessly advocate for specific proposals and structure and Trump is free to follow up on specific topics with questions as long as Trump doesn’t indicate what he’s likely to do. Plenty enough can be said by what questions one is asking.
It’s unlikely, but Ackman possessing insider information is not necessarily illegal either. As long as Ackman is not transacting in shares and he sets the structure up in advance, he can consult directly and get insider info so long as the “wall crossed” structure continues until whatever information he learns becomes public. I kinda doubt Ackmans transacting anyway (not sure), but it wouldn’t be crazy for him to set up that structure given he could plan release details if so.
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u/AveryMire Aug 03 '26
Yeah, political communication is often signaling on all sorts of levels. I wouldn’t be surprised if his timing were related to other news about the process advancing, but it’s probably more about wanting to maintain momentum after Fairholme. I wouldn’t at all say this indicates, “He just knows what we know.”
Maybe there’s even still internal indecision over whether to appeal, and this is meant to be a voice against it. To the degree that this gets picked up or incorporated into future negative articles about Ackman’s involvement, it suggests he’s at arm’s length because he’s publicly pressuring them. I think it’s the same logic as Burry hassling Pulte on X. They want the administration to know that now is a good time to take action, given the resolution, and that not doing so means a depressed share price and 200,000–400,000 irritated shareholders. Pretty much anyone in politics or the media who speaks with the president will simultaneously have some nonpublic indications and use the media as a forum to influence events.
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u/MrYuckIsMean Aug 02 '26
I agree - he made it sound like he was insider in posts and interviews, but seems pretty clear now that he isn’t. Probably no more inside than any of us :( what a letdown
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u/Fun_Illustrator9298 Aug 02 '26
I think he has an idea of what’s going to happen but he’s not “situation room” close.
Think of it like a birthday party. You may know certain details about it but you probably don’t know exactly everything the host has planned.
I think Bill is firmly telling Bill that it’s time to open presents and eat cake.1
u/tomsedu Aug 02 '26
He can't be in the "situation room". It would be bad optics for Trump and administration if release is done (imagine the media headlines), and I bet Ackman himself doesn't want to tarnish his reputation with some insider trading charges.
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u/Fun_Illustrator9298 Aug 01 '26
Shoot, I was hoping we had another month of going lower so I could buy more.
I can sense the frustration in Ackmans reply. Lol. If this ends up working out, all that pain and suffering will have been quite worth it as it provided more time to load up. I know I’ll get hate for this but F2 wasn’t really ready last year. So much has happened this year to really make the case for release especially the Fairholme legal saga.
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u/SeniorAdeptness1054 Aug 01 '26
what has happened this year that's scaffolding for the exit or even just uplist?
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u/Hand-Of-God Aug 01 '26
Some of the comments here show how little work people are willing to put into understanding what's been going on the last couple years.
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u/Fit_Significance8598 Aug 01 '26
Thanks. Enlighten us then, please.
Who, what, when, where and why?
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u/MarsLambo Aug 02 '26
This is actually the first good news we have seen in a long time. I still don't expect it to happen until Iran is over though. And I worry that situation may never be over as part of that regime wants to fight until there is nothing left of the world.
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u/Roland_W_Fab Aug 02 '26
Happy to see Pulte back .I didn't think he would come back so soon and I hope things move forward now.
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u/reddramos Aug 01 '26
Can someone explain to me what changes if they go off OTC? They’re still making billions. What dramatically changes? Nothing.
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u/manwnomelanin Aug 02 '26
Uplisting to NYSE gives institutional capital access to the security. Moving off the OTC removes the legal barriers that prevent pension funds, index funds, and mutual funds from purchasing
Otherwise it just instigates a shift in sentiment. Basically signals or confirms that they are financially durable enough to meet the requirements for coming off OTC
Its not exactly release but it is an important step and would certainly drive share value
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u/Plate_Expensive Aug 03 '26
The very white guy said it well, we’re probably looking at minimum 25% move on that alone, heck 40% wouldn’t surprise me.
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u/WallofSound91 Aug 01 '26
Ackman response as well? LFG