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T2 Housing Analysis -- Nice presentation about the current economic crisis

T2 Housing Analysis -- Nice presentation about the current economic crisis



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Published by Tikhon Bernstam

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Published by: Tikhon Bernstam on Dec 22, 2008
Copyright:Attribution Non-commercial


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An Overview of the Housing/Credit CrisisAnd Why There Is More Pain to Come
T2 Partners LLCT2 Accredited Fund, LPTilson Offshore Fund, Ltd.T2 Qualified Fund, LP
December 18, 2008
T2 Partners Management L.P. is a Registered Investment Advisor
145 E. 57
FloorNew York, NY 10022(212) 386-7160Info@T2PartnersLLC.com
This presentation is available at www.valueinvestingcongress.com.We would like to thank Amherst Securities Group L.P. (www.asglp.com) for generously providing data used in this presentation.
This document is not a solicitation to invest in any investment product, nor is it intended to provide investment advice. It is intended for informationpurposes only and should be used by sophisticated investors who are knowledgeable of the risks involved. All data and comments herein are believed tobe correct, but there are no guarantees and readers should do their own work. Please refer to the relevant Confidential Private Placement Memorandum forfull details on investment products and strateies of T2 Partners LLC.
-2-T2 Partners LLC
1.Overview of the Great Mortgage Bubble Page 32.Causes of the Great Mortgage Bubble Page 113.Consequences of the Bursting of the Great Mortgage Bubble Page 184.The Outlook for Home Prices is Grim Page 285.Economic Weakness Creates an Additional Headwind for Home PricesPage 436.There Are Only a Few Bits of Good News Page 517.What Does the Future Hold? Page 578.A Primer on Option ARMs Page 619.A Primer on HELOCs and Closed-End Seconds Page 6810.A Closer Look at Mortgage Loans That Were Securitized:Quantity and Quality Page 7311.A Closer Look at Mortgage Loans That Were Securitized: Defaults Page 8612.Where Did the Securitized Mortgages End Up?A Primer on ABSs and CDOs Page 10613. The Opportunity in Distressed Debt Page 115
Overview of the Great Mortgage Bubble

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