Steve Eisman on Banks, AI and His Next Big Bet

Odd Lots

Bloomberg

News, Investing, Business, News Commentary, Business News

4.4 • 1.6K Ratings

🗓️ 16 June 2023

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

Steve Eisman is known for having bet against the housing market prior to the Great Financial Crisis in a trade immortalized by Michael Lewis in The Big Short. So what is he betting on now? In a special live episode of Odd Lots, recorded at the Bloomberg Invest summit, the Neuberger Berman portfolio manager discusses the recent banking turmoil (he thinks it's contained), the boom in anything related to AI, and his current bets on US manufacturing and infrastructure. He also talks about investing in rewiring the nation's electricity grid and why he thinks this theme has years left to play out.

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Transcript

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0:32.8	zero, I'm doing a series about climate storytelling, how we talk about climate change and what it
0:38.5	means for how we confront it. This week, I'm interviewing Dorothy Fortenberry, executive producer of
0:44.8	extrapolations and Apple TV climate show. All of the current shows on TV that are taking place
0:50.3	right now that don't portray climate change, those are the science fiction shows.
0:54.7	Listen to zero on the iHard Radio app or wherever you get your podcasts.
1:10.8	Hello and welcome to another episode of the Adlots podcast. I'm Tracy Alloway and I'm Joe
1:16.4	Why isn't all so Joe, this is a very special live recording. I'm really excited about this one.
1:21.9	Always enjoy live recordings. We talked to our guest recently a few months ago and a lot has
1:26.8	happened since then. Really? All right, let's just jump right into it.
1:32.4	Yeah, you've given it a way, Steve, but we're going to be speaking with Steve Iseman. He is,
1:36.3	of course, a senior portfolio manager over at Newburger Burman. Thank you so much for coming back
1:41.0	on the show, Steve. Thank you very much. The last time we spoke to you, you seemed okay about
1:46.4	the banks. I don't know if I would say okay. Let's talk about what happened since then.
1:54.1	What did we just see in the financial system? So if I could sum it up in like a sentence because
1:59.4	it's always pretty good to try and sum it up in a sentence, I'd say we're not having a
2:03.9	banking crisis, we're having a crisis of certain banks. That's like a really good freaking line,
	...

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