Steve Eisman, the protagonist of the movie “The Big Short” and a senior portfolio manager at Neuberger Berman, recently shared his insights on the upcoming US presidential election and his investment strategy. He also expressed his skepticism towards cryptocurrencies, despite acknowledging them as one of the three great themes of our time.
Steve Eisman became famous for shorting collateralized debt obligations (CDOs) during the US housing bubble collapse from 2007 to 2008. In a recent interview with Bloomberg TV, Eisman stated, “At this moment, it is completely unavoidable that Donald Trump will win every swing state and be elected.”
Eisman also shared his views on the Federal Reserve and his outlook on artificial intelligence (AI), emphasizing that there are currently three important themes defining our era. He questioned whether cryptocurrencies qualify as a currency and pointed out that cryptocurrency supporters often highlight the flaws of fiat currency, describing Bitcoin as “digital gold.” Eisman commented, “That’s their argument.” He observed that cryptocurrencies like Bitcoin operate in a way that contradicts their own argument and added, “It has about a 75% correlation with the Nasdaq.”
During the discussion, Eisman presented a nuanced investment perspective, emphasizing a cautious and knowledgeable approach towards emerging technologies and market trends. He dismissed the notion of having a unique advantage and believed that true advantage lies in interpreting common facts differently. While skeptical of cryptocurrencies, Eisman remained optimistic about the potential of AI and the pressing need for technological advancements in everyday devices like smartphones.
Source: Bloomberg, Bitcoin.com
