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Steve Eisman on the 'Paradigm Shift' Happening in Markets Right Now

Feb 6, 2023

Steve Eisman, a portfolio manager at Neuberger Berman and a prominent figure from 'The Big Short', discusses the current 'paradigm shift' in financial markets. He highlights the resurgence of tech stocks and the transition to more stable industries following a tumultuous 2022. Eisman shares insights on historical market trends, investor psychology, and the impact of interest rates. He also explores the challenges in the housing market and the speculative nature of investments, providing valuable lessons from his extensive career in finance.

48:33

Creator website

Episode guests

Steve Eisman

Highlights

AI Chapters

Episode notes

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01:28

The Rise and Fall of the Old Financial Leadership Group

01:22

The Effect of Incentives on Corporate Ethics

01:16

Intro

2min

Market Paradigms and Shifts

9min

Analyzing Open Door's Business Model and Market Speculation

4min

Market Paradigm Shift: From Tech to Tangibles

9min

Dynamics of the Housing Market and REIT Liquidity Challenges

5min

Navigating Market Uncertainties

19min

Market Trends and Financial Insights

2min

After a decade of dominance, 2022 saw tech stocks badly underperform the rest of the market. However, so far in 2023, tech stocks and other speculations have surged again. According to Steve Eisman, what we're seeing is the natural process by which a "paradigm shift" is playing out in stocks. Eisman, a portfolio manager at Neuberger Berman, won big betting against CDOs during the Great Financial Crisis and was famously depicted in the book and movie The Big Short as one of the few investors who got it right. In this conversation, he talks about lessons learned from his career in investing, how and why big shifts happen in markets, the state of the financial system, and what sectors could win over the next decade.

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