German ‘Big Short’

THE investor who predicted the 2008 financial crisis has urged traders to bet against Deutsche Bank.

Steve Eisman – who realised the US property market was headed for collapse and inspired the film The Big Short – said the struggling German lender faces huge difficulties turning a profit. Eisman, who works at the New York investment firm Neuberger Berman, warned that Deutsche will need to axe vast numbers of staff and will probably have to raise more money from investors next year. He added: ‘Deutsche Bank is a problem bank.’