Whitney Tilson, the hedge fund manager of T2 Partners, says we are in the 5th inning of the credit crisis. Tilson is concerned about the same things we have been rambling about for months on end: credit card delinquencies, commercial real estate, and further RMBS losses. Tilson did a fantastic interview on CNBC’s Fast Money this evening. The only downside to this interview is that Mr. Tilson wasn’t on the show for the entire hour.
Of course, if you’re familiar with Mr. Tilson you know he nailed the housing call and shorted banks and housing related names well before they tanked. Tilson is reshorting the banks currently. If you haven’t seen T2’s outline of the housing crisis then please click here. This is an absolute must read for all investors.