More Mortgage Meltdown : 6 Ways to Profit in These Bad Times

by Whitney Tilson; Glenn Tongue

• ISBN13: 9780470528747
• ISBN10: 0470528745
• Format: eBook
• Copyright: 2009-05-01
• Publisher: Wiley

Summary

A clear look at how to capture investment profits during difficult financial timesThe 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.Now, 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. More Mortgage Meltdown can help you achieve this goal. The book Breaks down the complex mortgage products and rocket-science securities Wall Street created Addresses how to find investment opportunities within the rubble and position your portfolio to take advantage of the crisis Explains exactly how the combination of aggressive lending, government missteps, and Wall Street trading practices created the perfect economic storm Shows you why the crisis is not yet over and what we can expect going forwardMore Mortgage Meltdown 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.

Table of Contents

Acknowledgments

Introduction

What Happened and Why, Where Are We Now and What Does the Future Hold?

What Happened During the Housing Bubble?

What Caused the Bubble?

What Are the Consequences of the Bubble Bursting?

What Are the Problem Areas?

What's Next?

Profiting from the Meltdown.

Advice for Any Investor

A False Alarm on Derivatives (Case Study: Berkshire Hathaway)

A Battered Blue Chip (Case Study: American Express)

Bottom Fishing in Microcaps (Case Study: Resource America)

Opportunities in Pools of Distressed Mortgages (Case Study: Long Beach Mortgage Loan Trust 2006-8)

An Introduction to Shorting

A Case of Questionable Reserves (Case Study: MBIA)

An Ill-Fated Acquisition? (Case Study: Wells Fargo)

Notes

Index

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