Though his controversial critique of the two privately held government-sponsored housing enterprises is at odds with most of the typically glowing Wall Street analyses, the author of FNM/FRE Journal says he stands by his belief that the companies eventually will be see as poor investments.

"We send the reports to our customers hoping they will be persuaded to get out of the stock," said Richard X Bove, an analyst for Baird, Patrick & co., a New York stock brokerage house. "We have no other axes to grind," added Bove (pronounced Bowvay).

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