{"product_id":"more-mortgage-meltdown-isbn-9780470503409","title":"More Mortgage Meltdown","description":"\u003cp\u003eA clear look at how to capture investment profits during difficult financial times\u003c\/p\u003e \u003cp\u003eThe U.S. economy has become crippled by the credit and real estate catastrophe. Even though we've all been affected by the calamity and have heard no shortage of news about it, it still seems unfathomable and utterly incomprehensible to most people that the actions of certain mortgage brokers, bankers, ratings agencies, and investment banks could break the economic engine of the world.\u003c\/p\u003e \u003cp\u003eNow, for the first time, and in terms everyone can grasp, noted analysts and value investing experts Whitney Tilson and Glenn Tongue explain not only how it happened, but shows that the tsunami of credit problems isn't over. The second wave has yet to come. But if you know catastrophe is looming, you can sidestep the train wreck-and even profit. You just need to understand how bad times present opportunity and where to look. \u003ci\u003eMore Mortgage Meltdown\u003c\/i\u003e can help you achieve this goal. The book\u003cbr\u003e \u003c\/p\u003e \u003cul\u003e \u003cli\u003eBreaks down the complex mortgage products and rocket-science securities Wall Street created\u003c\/li\u003e \u003cli\u003eAddresses how to find investment opportunities within the rubble and position your portfolio to take advantage of the crisis\u003c\/li\u003e \u003cli\u003eExplains exactly how the combination of aggressive lending, government missteps, and Wall Street trading practices created the perfect economic storm\u003c\/li\u003e \u003cli\u003eShows you why the crisis is not yet over and what we can expect going forward\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eMore Mortgage Meltdown\u003c\/i\u003e can help you understand the events that have unfolded, and put you in a better position to profit from the opportunities that arise during these tough financial times.\u003c\/p\u003e \u003cp\u003eAcknowledgments vii\u003c\/p\u003e \u003cp\u003eIntroduction ix\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One: What Happened and Why, Where Are We Now, and What Does the Future Hold?\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 1 What Happened during the Housing Bubble? 3\u003c\/p\u003e \u003cp\u003eChapter 2 What Caused the Bubble? 29\u003c\/p\u003e \u003cp\u003eChapter 3 What Are the Consequences of the Bubble Bursting? 49\u003c\/p\u003e \u003cp\u003eChapter 4 What Are the Problem Areas? 67\u003c\/p\u003e \u003cp\u003eChapter 5 What’s Next? 97\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two: Profiting from the Meltdown\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 6 Advice for All Investors 121\u003c\/p\u003e \u003cp\u003eChapter 7 A False Alarm on Derivatives 149\u003c\/p\u003e \u003cp\u003eCase Study: Berkshire Hathaway\u003c\/p\u003e \u003cp\u003eChapter 8 A Battered Blue Chip 179\u003c\/p\u003e \u003cp\u003eCase Study: American Express\u003c\/p\u003e \u003cp\u003eChapter 9 Bottom Fishing in Microcaps 199\u003c\/p\u003e \u003cp\u003eCase Study: Resource America\u003c\/p\u003e \u003cp\u003eChapter 10 Opportunities in Pools of Distressed Mortgages 215\u003c\/p\u003e \u003cp\u003eCase Study: Long Beach Mortgage Loan Trust 2006-8\u003c\/p\u003e \u003cp\u003eChapter 11 An Introduction to Shorting 227\u003c\/p\u003e \u003cp\u003eChapter 12 A Case of Questionable Reserves 241\u003c\/p\u003e \u003cp\u003eCase Study: MBIA Inc\u003c\/p\u003e \u003cp\u003eChapter 13 An Ill-Fated Acquisition? 265\u003c\/p\u003e \u003cp\u003eCase Study: Wells Fargo\u003c\/p\u003e \u003cp\u003eConclusion 287\u003c\/p\u003e \u003cp\u003eNotes 291\u003c\/p\u003e \u003cp\u003eIndex 299\u003c\/p\u003e \"Most original in its opinions on what happens from here and how investors can profit. Tilson and Tongue argue that the mess is far from over in housing. . . That said, Tilson and Tongue argue that there are opportunities for stock pickers to profit. . . The book concludes with an interesting analysis of Wells Fargo, which the authors shorted at $30 a share but then went long on at $10. . . Overall, the book is well worth reading.\" (\u003ci\u003eThe Free Lance-Star\u003c\/i\u003e)  \u003cb\u003eWhitney Tilson and Glenn Tongue\u003c\/b\u003e are the Managing Partners of T2 Partners LLC and the Tilson Mutual Funds. The former firm manages three value-oriented hedge funds, while the latter is comprised of two mutual funds, Tilson Focus Fund and Tilson Dividend Fund.  \u003cp\u003e\u003cb\u003eMr. Tilson\u003c\/b\u003e is the cofounder and Chairman of the Value Investing Congress, a biannual investment conference in New York City and Los Angeles, as well as the investment newsletters \u003ci\u003eValue Investor Insight\u003c\/i\u003e and \u003ci\u003eSuperInvestor Insight\u003c\/i\u003e. He writes a regular column on value investing for \u003ci\u003eKiplinger's Personal Finance\u003c\/i\u003e, has written for the Financial Times and TheStreet.com, and was one of the authors of \u003ci\u003ePoor Charlie's Almanack\u003c\/i\u003e, the definitive book on Berkshire Hathaway Vice Chairman Charlie Munger. He was featured on \u003ci\u003e60 Minutes\u003c\/i\u003e in December 2008, was one of five investors included in \u003ci\u003eSmartMoney's\u003c\/i\u003e 2006 Power 30, was named by \u003ci\u003eInstitutional Investor\u003c\/i\u003e in 2007 as one of twenty Rising Stars, and appears regularly on CNBC and Bloomberg TV. He received an MBA with high distinction from the Harvard Business School, where he was elected a Baker Scholar, and graduated magna cum laude from Harvard College with a bachelor's degree in government.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eMr. Tongue\u003c\/b\u003e spent seventeen years on Wall Street prior to joining T2 Partners, most recently as an investment banker at UBS, where he was a managing director specializing in acquisitions and leveraged finance. Before UBS, Mr. Tongue was at Donaldson, Lufkin \u0026amp; Jenrette for thirteen years, the last three of which he served as the president of NYSE-listed DLJdirect, the consistently top-rated online brokerage firm. Prior to DLJdirect, Mr. Tongue was a managing director in the investment bank at DLJ, where he worked on over 100 transactions, aggregating more than $40 billion. He received an MBA with distinction from the Wharton School of Business and received a Bachelor of Science in electrical engineering and computer science from Princeton University.\u003cbr\u003e Visit www.moremortgagemeltdown.com to ask Whitney and Glenn questions, read their latest thoughts on the companies they analyze in the book, see updated color versions of the book's charts, and much more.\u003c\/p\u003e  The housing market has imploded and the stock market has followed suit, with stock portfolios, retirement accounts, and pension funds cut in half. The U.S. economy is reeling from the real estate meltdown and credit crunch. Not stopping at the border, the storm has broadened to Europe, Asia, and beyond throughout 2008 and into 2009. Is there anyone on the planet who has not been touched by this disaster?  \u003cp\u003eEven though we've all been affected by the calamity and have heard no shortage of news about it, it still seems unfathomable and utterly incomprehensible to most people that the actions of certain banks, mortgage companies, and Wall Street firms could bring the economic engine of the world to a grinding halt. Now, for the first time, and in terms everyone can grasp, noted analyst and value investing expert Whitney Tilson, along with his partner Glenn Tongue, explains not only how it happened, but shows that the tsunami of credit problems isn't over. Another even larger wave is yet to come. If you know catastrophe is looming, you can sidestep the train wreck, and even profit, but you need to understand how bad times present opportunity and where to look.\u003c\/p\u003e \u003cp\u003eTilson, a columnist for \u003ci\u003eKiplinger's Personal Finance\u003c\/i\u003e, featured on \u003ci\u003e60 Minutes\u003c\/i\u003e, and a regular on CNBC, started presenting his findings to everyday people and found them clamoring for more. Now in \u003ci\u003eMore Mortgage Meltdown\u003c\/i\u003e, Tilson explains in a clear and understandable way how misguided assumptions, insatiable greed, reckless risk taking, and government inaction led to the creation of the greatest asset bubble in history, the aftermath of which is the perfect economic storm. Then, he shows you why there's still much more pain to come and what we can expect from the ongoing crisis over the next few years.\u003c\/p\u003e \u003cp\u003eFinally, \u003ci\u003eMore Mortgage Meltdown\u003c\/i\u003e teaches you how to find investment opportunities within the rubble and position your portfolio to take advantage of the crisis. The book uses in-depth case studies of individual companies and stocks to show how to evaluate investments in these uncertain times. You will learn how to spot warning flags in the financial statements of companies that can help you avoid losing your hard-earned money. And you will learn how to spot undervalued businesses with competitive advantages or hidden assets that will likely emerge stronger from the crisis. It is important for all of us to understand how the credit and mortgage crisis happened. Equally important is the chance to potentially profit in its aftermath.\u003c\/p\u003e  \u003cp\u003eThe housing market has imploded and the stock market has followed suit, with stock portfolios, retirement accounts, and pension funds cut in half. The U.S. economy is reeling from the real estate meltdown and credit crunch. Not stopping at the border, the storm has broadened to Europe, Asia, and beyond throughout 2008 and into 2009. Is there anyone on the planet who has not been touched by this disaster? \u003c\/p\u003e\u003cp\u003eEven though we've all been affected by the calamity and have heard no shortage of news about it, it still seems unfathomable and utterly incomprehensible to most people that the actions of certain banks, mortgage companies, and Wall Street firms could bring the economic engine of the world to a grinding halt. Now, for the first time, and in terms everyone can grasp, noted analyst and value investing expert Whitney Tilson, along with his partner Glenn Tongue, explains not only how it happened, but shows that the tsunami of credit problems isn't over. Another even larger wave is yet to come. If you know catastrophe is looming, you can sidestep the train wreck, and even profit, but you need to understand how bad times present opportunity and where to look. \u003c\/p\u003e\u003cp\u003eTilson started presenting his findings to everyday people and found them clamoring for more. Now in \u003ci\u003eMore Mortgage Meltdown,\u003c\/i\u003e Tilson explains in a clear and understandable way how misguided assumptions, insatiable greed, reckless risk taking, and government inaction led to the creation of the greatest asset bubble in history, the aftermath of which is the perfect economic storm. Then, he shows you why there's still much more pain to come and what we can expect from the ongoing crisis over the next few years. \u003c\/p\u003e\u003cp\u003eFinally, \u003ci\u003eMore Mortgage Meltdown\u003c\/i\u003e teaches you how to find investment opportunities within the rubble and position your portfolio to take advantage of the crisis. The book uses in-depth case studies of individual companies and stocks to show how to evaluate investments in these uncertain times. You will learn how to spot warning flags in the financial statements of companies that can help you avoid losing your hard-earned money. And you will learn how to spot undervalued businesses with competitive advantages or hidden assets that will likely emerge stronger from the crisis. It is important for all of us to understand how the credit and mortgage crisis happened. Equally important is the chance to potentially profit in its aftermath.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989654782181,"sku":"NP9780470503409","price":27.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470503409.jpg?v=1761784976","url":"https:\/\/k12savings.com\/products\/more-mortgage-meltdown-isbn-9780470503409","provider":"K12savings","version":"1.0","type":"link"}