Getting to know Steve Eisman
Steve Eisman, a fund manager for Neuberger Berman Group, was the inspiration for a character played by Steve Carell in the fictionalised movie version of Michael Lewis’s non-fiction book The Big Short, which should give a clue to the investment strategy for which he’s best known.
Eisman, who in pre-crash days had a penchant for telling the most hubristic enthusiasts for subprime mortgage investments that they were going to lose every cent, was last spotted at a conference in Dubai at the weekend, where he said he was shorting two unnamed British banks – betting their share prices will fall – over expectations the UK will leave the European Union without a deal.
And he had more to say, as Bloomberg reported. “I’m shorting two stocks in the UK, but I’ve got a screen of about 50, and I might short all 50 if I think Jeremy Corbyn is going to be prime minister.”
First problems first, though, right?