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by: Whitney Tilson; Glenn Tongue

ISBN: 9780470503409 | 0470503408

Praise for More Mortgage Meltdown"You couldn't ask for better guides than Whitney and Glenn to take you through the tough times. They saw the mortgage meltdown coming and their new book can help get you through it with timely, useful, and sage advice." -Joel Greenblatt, Managing Partner, Gotham Capital; author of The Little Book That Beats the Market and You Can Be a Stock Market Genius"Two great students of investing explain the great economic debacle and teach us what to do about it." -David Einhorn, founder, Greenlight Capital; author of Foo... MOREling Some of the People All of the Time"A cogent guide to current financial events and sourcebook with investment case studies for value investing practitioners and aspirants. I strongly recommend that you give it a thorough and careful read." -William Ackman, founder, Pershing Square Capital Management, LP"With clarity and their typical attention to detail, Whitney and Glenn deftly illustrate key plot lines for our economic horror show. They thankfully offer some hope that all won't be lost when the house lights go up." -Steven Romick, Partner, First Pacific Advisors, LLC"Whitney and Glenn have done an extraordinary job alerting all who would listen of deep, and in many instances irreversible, perils confronting financial industry investors with exposure to U.S. mortgage industry securities. While most bank analysts busied themselves rearranging deck chairs on our financial Titanic, Whitney and Glenn fixed their vision on mortgage industry icebergs. While there is surely enough blame to be spread around as a result of the financial industry's shameful conduct, they deserve credit for speaking out with their early and accurate warnings. " -Thomas A. Russo, Partner, Gardner Russo & Gardner

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The subprime mortgage meltdown has happened. People who should never have had loans got them and then couldn't pay them back. It should be over, right? No. Lending standards fell to the basement across the board: there remains over $1 trillion in Alt-A and Option Arms (a ka "liar loans" and "stupid loans"), and just as many of these will go belly up as subprime did. In other words, we're only halfway through the mess. And this doesn't include the never should have had, liar, and stupid home equity loans. But, wait, there's more! Bad auto loans, bad credit card loans, and bad commercial real estate loans (that will show their ugly faces as retail establishments and businesses close up shop). The good news is that there is a light at the end of the tunnel. Credit expert and value analyst Whitney Tilson shows you how to avoid the oncoming train and then how to profit from it with 4 great long-term investment opportunities and 4 short selling opportunities. The real estate and credit markets may be a mess but the stock market knows this and it offers some great values - if you know where to look.

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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.

Mr. Tilson 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 Value Investor Insight and SuperInvestor Insight. He writes a regular column on value investing for Kiplinger's Personal Finance, has written for the Financial Times and TheStreet.com, and was one of the authors of Poor Charlie's Almanack, the definitive book on Berkshire Hathaway Vice Chairman Charlie Munger. He was featured on 60 Minutes in December 2008, was one of five investors included in SmartMoney's 2006 Power 30, was named by Institutional Investor 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.

Mr. Tongue 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 & 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.

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.