Steve Eisman Takes Cautious Stance on Stock Market
The character prototype of the film “The Big Short,” Steve Eisman, a senior portfolio manager at Neuberger Berman, recently stated that he is currently taking a wait-and-see attitude towards the stock market and has reduced the risk in his personal investment portfolio.
In an interview with CNBC this week, Eisman, who is known for shorting the housing market before the U.S. subprime mortgage crisis, mentioned that he launched his own podcast titled “The Eisman Playbook” after leaving Neuberger Berman. During the interview, Eisman identified himself as a long-term investor who does not frequently enter and exit the market.
When asked which stocks he believes will perform well over the next three to five years, he mentioned chip manufacturer Nvidia and alternative asset management company Apollo Global Management, asserting that they possess “strong long-term fundamentals” and are expected to yield profits for long-term investors, despite his uncertainty regarding the short-term trends of these stocks.
Eisman also noted that we are still in the very early stages of the artificial intelligence revolution and believes that Nvidia still has room for growth.
