- ISBN13: 9780470503409
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
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Product Description
A clear look at how to capture investment profits during difficult financial times
The 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 forward
More 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.
I have just read the first part of the book and it is hard to put it down!! sounds so much more convincing and informative when a lot of detailed graphs, pie charts and tables are presented to explain subprime, Alt A, jumbo, option ARM, home equity, second lien and how everything have come together to create this financial meltdown.
And unlike the book “Dollar crisis- causes, consequences and cure” that is also very informative with graphs and tables but dry at some points, in this book there are plenty of extracts from interviews and newspaper stories in between the charts which makes it a lot more interesting. It shows you behind all these numbers and graphs how ordinary folks and the whole system with its distorted incentives have created such massive bubble in housing market.
The second part talks about value investing and how investors can profit from the current crisis- detail case studies on Berkshire, Amercian express, Resource America, Long Beach Mortgage loan, MBIA and Wells Fargo — p/149-265 haven’t read yet but for less than $6 (at this moment from $28 originally) this book is def. worth buying (even just for the 1st part!!) esp. if you are value investor cos it’s at nearly 80% discount!
Rating: 5 / 5
The authors have done an outstanding job when discussing the housing bubble and the resulting mortgage melt down. The graphs are particularly illustrative of the amazing future exposure the nation faces to defaults and foreclosures. The authors have made the graphs available in PDF form for downloading which I recommend..they tell the whole story graphically with succinct commentary.
Part two which purportedly deals with actions to take to take advantage of the mortgage meltdown is really not particularly helpful. The authors manage value hedge and mutual funds and spend the last chapters describing some of their investments (e.g. American Express, Berkshire Hathaway). Frankly, while I found part 2 interesting, it seemed more like a promotion for their funds and advisary letters. In a sense, I thought part 2 somewhat demeaned the scholarship and objectivity evident in part 1.
Notwithstanding my reservations about part 2, I recommend the book not just for those who are interested in the history of the burst bubble but for those who can see the opportunities and pitfalls the accelerating foreclosure pandemic presents.
Rating: 4 / 5
As a visual learner, I can’t praise enough the excellent charts and graphs used in More Mortgage Meltdown to convey the magnitude of the bubble and the likely duration of its collapse. I would suggest potential readers use the Amazon preview feature to look at the Alt-A monthly mortgage rate reset charts on pages 78-79. If those charts don’t impact your investment strategy for the next few years, I suggest you buy Danielle Steele’s latest instead.
Rating: 5 / 5
Whitney and Glenn have written THE primer on the mortgage and financial system debacle. This book is a must-read for anyone interested in the financial markets, investing, and what may be coming next.
Rating: 5 / 5
It was a fabulous read .Better than any novel I can remember.I could not put it down.After just finishing the book I have ordered 8 more to give to friends as I believe not only does the book give us a clear picture of what happened but probabaly what will happen.
Both Whitney and Glenn have done a superlative job in their writings and the way they have managed both their Hedge Fund and Mutual Funds.
These are two quality people.
Rating: 5 / 5