Thanks to reader TimB for sending this our way. To summarize, T2 argues:
1. Home prices have not bottomed
2. Prices will likely overshoot to the downside
3. Of the 12 bubbles presented, ZERO have ever experienced a V-shaped recovery
4. Banks are not prepared to handle the coming losses
5. Alt-A resets and inventory will keep a lid on prices
6. The economy will not rebound until 2010
7. Housing will bottom in mid-2010
8. There are opportunities
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.