Are there any obvious synergies between Berkshire and Pershing and F2 besides Pershing’s stake in F2? A new post on the PSTH board for Pershing Square Sparc got me thinking about it given Berkshire’s Taylor Morrison acquisition and Pershing’s HHH. Not sure if those are competitors or if there could be a pony in there? I know the SPARC concept has been discussed before but a lot has transpired since then.
I’ve been considering buying some common shares here and had a question regarding the Fairholme case that I figured others here would be much more familiar with. Why is the Trump administration / FHFA appealing the favorable ruling for common shareholders if the administration believes the net worth sweep was wrong and plans to basically undo it by waiving the senior preferred? Isn’t FHFA basically arguing in the appeal that the net worth sweep was legally permitted and should stand? I might be getting that totally wrong but I thought the bull thesis and Ackman’s thesis was that this administration would take the opposite stance so why would they fight this? Thanks in advance.