Commodity Online NEW YORK: Much of the OECD world is depressed by the developments in the global economy caused by the US credit crisis. From an investment point of view, is there any other way other than throwing up your hands in despair or beating your chests?
A new book by analysts at T2 Partners LLC released the other day shows how to profit even in these bad times. More Mortgage Meltdown: 6 Ways to Profit in These Bad Times (Wiley; May 2009; $27.95; Hardcover), is written by leading investors and market analysts Whitney Tilson and Glenn Tongue, managing partners of the T2 Partners hedge funds and Tilson Mutual Funds.
The collapse of the U.S. housing market is the defining economic event of the last 75 years, yet for many it is still a mystery. What happened, and why? Where are we today, and what does the future hold? This invaluable guide not only offers clear answers to these questions but also teaches investors how to look for value in today's - and tomorrow's - financial environment.
Since the market peaked in late 2007, Tilson and Tongue have written and spoken widely about the looming financial crisis, including a keynote presentation in May 2008 at the Value Investing Congress, a leading investing conference co-founded by Tilson. Their prescient analysis quickly gained the attention of investors, analysts and the news media. More Mortgage Meltdown is a product of their foresight and prepares investors for the next stages of the housing crisis.
"The collapse of the U.S. housing market triggered the worldwide credit crunch, which has profoundly affected all of us," said Whitney Tilson. "While the U.S. is taking important steps to work through the problems, losses exceeding $1 trillion are yet to come. In spite of this economic headwind that will be with us for many years, however, we believe that there are terrific investing opportunities for those who know where to look."
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Added Glenn Tongue, "By applying the proven, timeless principles of value investing - the strategy pioneered by Ben Graham and Warren Buffett - savvy investors can avoid traps and profit from this downturn. Our book is intended to be a go-to resource for every investor, from the casual novice to the surefooted professional."
Tilson and Tongue begin More Mortgage Meltdown by analyzing the U.S. housing market, the causes of the great mortgage bubble, where we are today, and what lies ahead. Through clear, detailed examples, the authors show how the reckless actions of many banks, mortgage companies, and Wall Street firms brought about the current crisis. The second half of More Mortgage Meltdown offers detailed strategies for investors to beat the downturn. With six in-depth investment case studies, including Berkshire Hathaway, American Express and Wells Fargo, Tilson and Tongue illuminate the opportunities and explain how to identify undervalued stocks with competitive advantages in today's market.
"You couldn't ask for better guides than Whitney and Glenn to take you through the tough times," said Joel Greenblatt, managing partner of Gotham Capital and author of the bestselling The Little Book That Beats the Market. "They saw the mortgage meltdown coming and their new book can help you get through it with timely, useful and sage advice." (
Courtesy: PRWeb)
