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  "documentTitle": "Fannie Mae & Freddie Mac (FNMA/FMCC)",
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  "authorName": "William Ackman",
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  "presentationDate": "2025-01-16 00:00:00",
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  "notes": "This is a classic 'preempting the skeptic' slide, framing a potential counter-argument to the activist's thesis.",
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      "kind": "callout",
      "text": "How will Fannie and Freddie be able to IPO at more than $30 per share when the stocks currently trade at ~$6?",
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      "text": "share price: $30",
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