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 cryptocurrency, although he acknowledged it as one of the three major themes of our time.
Steve Eisman became famous for shorting collateralized debt obligations (CDOs) during the 2007-2008 US housing bubble collapse. In a recent interview with Bloomberg TV, Eisman stated, “At this point, it’s completely inevitable 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 currencies, noting that supporters often highlight the drawbacks of fiat currency and describe Bitcoin as “digital gold.” Eisman commented, “That’s their argument.” He observed that cryptocurrencies like Bitcoin perform “precisely the opposite of their argument,” with a correlation of about 75% to the Nasdaq index.
Eisman stated, “So to me, cryptocurrencies are just another way for people to speculate on speculation.”
During the discussion, Eisman presented a nuanced investment perspective, emphasizing a cautious and informed approach to emerging technologies and market trends. He rejected the notion of having a unique advantage, believing that the real advantage lies in interpreting common facts differently. While skeptical of cryptocurrencies, Eisman remains optimistic about the potential of AI and the pressing need for technological advancements in everyday devices like smartphones.
Source: Bloomberg, Bitcoin.com
