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September 24, 2008

The Freddie/Fannie Apocalypse Trade

Let's say that last Tuesday you were looking for a safe port in the storm as markets imploded. Where would you most profitably have gone? Oil? Gold? Cash? Swiss Francs?

How about Fannie Mae and Freddie Mac. As the following table shows, busted and semi-nationalized Fannie and Freddie were the best investments going over the period, stomping the rest of the financials -- not to mention every supposed safe haven in sight. What a strange, strange world we live in.

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