Fannie Mae is snatching potential profits away from mortgage lenders as it posts record earnings that are fueling industry concern the government-backed company is regaining its swagger even as lawmakers plot its demise.
At a time when gold is in a bear market amid record outflows from investor holdings, bullion remains relevant in portfolios as inflation may accelerate, the U.S. dollar weaken and global economic growth stall, according to Franklin Templeton Investments.
Hedge funds led by Paulson & Co. and Maverick Capital are piling into mortgage insurers in a bet that some of the companies worst hit by the U.S. housing crash will be among the biggest winners in the rebound.
Investor fascination with hedge funds has been on full display for the past two weeks as managers filed their quarterly holding reports, known as 13Fs. Everyone wants to know what John Paulson or David Einhorn or David Tepper is loading up on and what they're getting rid of. And yes, there's an exchange-traded fund to feed that fascination. It's up 52 percent since its inception less than a year ago -- 18 percent more than the S&P 500 Index.