The Eisman Playbook

In this episode of 'The Eisman Playbook,' Steve is joined by special guest Dwight Collins, co-head of U.S. and head of institutional sales at Autonomous, a boutique financial firm. They delve into the nuances of institutional sales, comparing the differences between bulge bracket and boutique firms. Dwight shares insights about financial services, drawing from his extensive experience and current client feedback. Key topics include market trends, credit quality, and M&A activity within sectors such as banks, investment banks, asset management, alternatives, insurance, and fintech. They discuss the impacts of deregulation, the changing landscape of traditional asset management, and emphasize the stable performance of exchanges and quality financial stocks in a volatile market environment. They also touch upon the evolving role of giants like Visa, MasterCard, and Apple in the fintech space. Episode Highlights: 01:37 Introduction and Special Guest Introduction 01:50 Understanding Institutional Sales 03:18 Insights from Dwight Collins 05:11 Market Sentiments and Client Feedback 10:54 Banking Sector Analysis 24:52 Asset Management and Alternatives 33:11 Apollo vs. Blackstone: A Tale of Two Strategies 33:36 Challenges in the Private Equity Market 36:26 Accounting Issues in Private Equity 38:15 Life Insurance: A Complex Sector 41:06 Property and Casualty Insurance: Natural Catastrophes Impact 43:34 Specialty Finance: Mergers and Market Dynamics 48:18 FinTech: The Rise and Fall 51:05 Visa and MasterCard: The Unbeatable Giants 55:45 Apple Pay's Disruption in Payments 56:45 Top Stock Picks and Market Insights 01:01:26 Conclusion and Final Thoughts Link to this episode on YouTube: https://youtu.be/r3qBnCJYcfw⁠ Connect with Steve Eisman and access The Eisman Playbook: 🌐 https:// linktr.ee/eismanplaybook 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: ⁠⁠⁠⁠⁠Collier Landry⁠⁠⁠⁠⁠ Producer & Publicity: ⁠⁠⁠⁠⁠Steven Cohen, Next Horizon Media⁠⁠⁠⁠⁠ Post-Production Services by Don’t Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in ‘The Eisman Playbook' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

This is a bonus episode featuring a replay of 'The Noble Update' Twitter Spaces session hosted by George Noble @gnoble79 and co-host Dilley @DilleyCouture, who Steve Eisman joins as he discusses various topics, including the origins of his investment ideas, his thoughts on current market dynamics, and his perspective on housing and financial sectors. Eisman also shares his views on the escalating federal deficit, the role of AI in the economy, and the value of Bitcoin. The session concludes with Eisman revealing his favorite comic books, offering a more personal glimpse into the famed investor's interests. 00:00 Introduction and Casual Conversation 00:10 Discussing the Song 'When the Levee Breaks' 01:49 Market Observations and Steve Eisman's Introduction 03:44 Steve Eisman's Background and The Big Short 13:12 Current Market Views and Predictions 27:56 Q&A Session with Steve Eisman 48:40 Financial Crisis Concerns 49:32 AI and Future Investments 50:45 Synthetic Products and Retail Investors 52:11 Commercial Real Estate Issues 53:32 Tech Giants: Apple and Google 01:01:35 Bitcoin and Cryptocurrencies 01:07:27 Comic Books and Personal Stories 01:26:27 Monetary Policy and Interest Rates 01:29:24 Conclusion and Final Thoughts Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve's latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: ⁠⁠⁠⁠⁠https://www.tiktok.com/@eismanplaybook⁠⁠⁠⁠⁠ – Get bite-sized investing wisdom and clips from the show Instagram: ⁠⁠⁠⁠⁠https://www.instagram.com/eismanplaybook⁠⁠⁠⁠⁠– Behind the scenes, quotes, and episode highlights Website: ⁠⁠⁠⁠⁠https://www.eismanplaybook.com⁠⁠⁠⁠⁠ – Full episodes, articles, and more 👉 Don't forget to follow, subscribe, and share the show with someone who needs to hear it. Podcast Production Credits Producer: ⁠⁠⁠⁠⁠Collier Landry⁠⁠⁠⁠⁠ Producer & Publicity: ⁠⁠⁠⁠⁠Steven Cohen, Next Horizon Media⁠⁠⁠⁠⁠ Post-Production Services by Don't Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The views expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No particular results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in 'The Eisman Playbook' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount initially deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this week's The Weekly Wrap episode hosted by Steve Eisman, key market updates and trade news are discussed. Market Movements, Trade Updates, and Corporate Earnings: A Weekly Wrap with Steve EismanIn this episode of the Weekly Wrap, Steve Eisman reviews the latest market movements, including a significant rally this week with the S&P 500 up 6.5% and the NASDAQ up 7%. He discusses President Trump's trade negotiations with China, affecting tariffs and potentially U.S. drug costs. Eisman also covers Trump's international investments and the struggling performance of UnitedHealthcare. Key earnings reports from Cisco and Walmart are analyzed, along with trade-related news involving Apple and a merger of Charter and Cox in the cable industry. He wraps up with insights into the mixed earnings season, the impact of emotional investor reactions, and recommendations on books by Judge Richard Posner. The episode concludes with a mention of an upcoming podcast interview with Dwight Porter, which will focus on various financial services. Episode Highlights: 00:00 Introduction and Market Overview 00:25 Trade News and Market Reactions 02:25 Healthcare and Company Specific News 03:27 Tech and Retail Earnings Reports 05:39 Trade War Concerns and Market Sentiment 07:55 Book Recommendations and Podcast Updates 09:07 Conclusion and Disclaimers Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve's latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: ⁠⁠⁠⁠https://www.tiktok.com/@eismanplaybook⁠⁠⁠⁠ – Get bite-sized investing wisdom and clips from the show Instagram: ⁠⁠⁠⁠https://www.instagram.com/eismanplaybook⁠⁠⁠⁠– Behind the scenes, quotes, and episode highlights Website: ⁠⁠⁠⁠https://www.eismanplaybook.com⁠⁠⁠⁠ – Full episodes, articles, and more 👉 Don't forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: ⁠⁠⁠⁠Collier Landry⁠⁠⁠⁠ Producer & Publicity: ⁠⁠⁠⁠Steven Cohen, Next Horizon Media⁠⁠⁠⁠ Post-Production Services by Don't Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The views expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No particular results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in 'The Eisman Playbook' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount initially deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, Steve Eisman summarizes his recent podcast interview with renowned housing analyst Ivy Zelman, sharing five critical insights about the current housing market. They discuss why home affordability is declining, the impact of rising mortgage rates, the professionalism and land purchasing strategies of today's home builders compared to the pre-crisis era, and the challenges of building affordable homes due to local zoning laws. Zelman expresses caution about investing in home builders given current market conditions, emphasizing high rates and affordability issues. For more in-depth analysis, listeners are encouraged to watch the complete podcast. 00:00 Introduction and Overview 00:13 Housing Affordability Challenges 00:35 Impact of Interest Rates on Housing 01:13 Changes in Home Builder Practices 02:19 Regulatory Hurdles for Affordable Housing 02:51 Current Market Conditions and Recommendations 03:25 Conclusion and Podcast Information 04:16 Disclaimer and Production Credits Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https:// linktr.ee/eismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. Episode Production Credits Producer:  ⁠Collier Landry⁠ Producer & Publicity: ⁠Steven Cohen, Next Horizon Media⁠ Post-Production Services: Don’t Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The views expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not guarantee future results. No particular results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in "The Eisman Playbook" carry a high level of risk and may not be suitable for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount initially deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of The Eisman Playbook, Steve Eisman discusses the current housing market with Ivy Zelman of Zelman Associates. They explore the transformation of the homebuilding industry since the pre-crisis era, focusing on changes in balance sheets, land acquisition practices, and the impact on market dynamics. The episode delves into the affordability crisis, the factors behind it, and potential federal interventions to improve the situation. They also touch on the pressures sell-side analysts face and provide advice for young professionals entering the finance industry. Finally, Eisman answers listener questions in a new segment called 'Steve's Mailbag' and announces an upcoming financial literacy masterclass. Link to this episode on YouTube: https://youtu.be/ttViYDGrD-I Episode Highlights: 00:00 Introduction to the Eisman Playbook 01:27 Meet Ivy Zelman: Housing Market Expert 03:30 Pre-Crisis vs. Post-Crisis Home Builders 09:28 Current State of the Existing Home Market 13:22 Challenges and Strategies for Home Builders 18:23 Investment Insights on Home Builders 25:27 Affordability Crisis in the Housing Market 26:49 The Housing Affordability Crisis 27:49 Challenges in Home Building 29:24 Impact Fees and Community Services 29:59 Hypothetical Solutions for Housing 33:08 Experiences as a Sell-Side Analyst 37:08 Market Insights and Predictions 42:32 Advice for Aspiring Analysts 44:19 Steve's Mailbag: Listener Questions 47:37 Conclusion and Final Thoughts About my guest, Ivy Zelman: Website: https://www.zelmanassociates.com/ Ivy Zelman’s Stock Disclosures: AMWD, BLD, BLDR, CSL, FBHS, IBP, MBC, RMAX, SWK, BZH, CCS, HOV, KBH, LEN, MDC, MHO, MTH, PMH, TOL & TMHC Stock Ownership: Analyst: No Analyst’s Family: No Analyst’s Firm: No Investment Banking Client: No Other Conflicts: Yes – Zelman has received compensation for products or services other than investment banking services. DFH Stock Ownership: Analyst: No Analyst’s Family: No Analyst’s Firm: No Investment Banking Client: Yes Other Conflicts: Yes – Zelman has received compensation for products or services other than investment banking services Connect with Steve Eisman and access The Eisman Playbook: 🌐 https:// linktr.ee/eismanplaybook 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: ⁠⁠⁠⁠Collier Landry⁠⁠⁠⁠ Producer & Publicity: ⁠⁠⁠⁠Steven Cohen, Next Horizon Media⁠⁠⁠⁠ Post-Production Services by Don’t Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in ‘The Eisman Playbook' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

A Weekly Wrap: Market Movements, Trade News, and Earnings Highlights In this week's Weekly Wrap episode hosted by Steve Eisman, key market updates and trade news are discussed. The S&P 500 and NASDAQ were down marginally, capping off a strong rally. Significant trade developments included President Trump's proposed tariffs on foreign-produced movies and a vague reversal on Biden-era AI chip curbs, impacting media and chip stocks. A new trade agreement with the UK also promises increased market access and reduced duties on certain goods. On the tax front, there's a proposal to extend the 2017 tax cuts with offsets targeting high incomes and private equity gains. Earnings season continues, with mixed results, particularly in consumer-facing companies and media. However, notable performances were seen from Disney and certain industrial and tech companies like Johnson Controls and AMD. Beyond earnings, the episode covers the Fed's steady interest rates and a surprising testimony from an Apple executive in the Google antitrust trial, which may signal a decline in Google searches due to AI competition. To cap it off, Steve teases an interview with renowned housing analyst Ivy Zelman in the next podcast episode. Episode Highlights: 00:00 Introduction and Market Overview 00:29 Trade News Highlights 02:27 Tax Updates and Proposals 03:30 Private Equity and Venture Capital Challenges 04:47 Federal Reserve and Antitrust News 06:02 Earnings Season Insights 07:22 Consumer-Facing Companies Performance 09:13 Media Sector Analysis 10:35 Industrials Sector Review 12:01 Technology Sector Highlights 13:30 Conclusion and Upcoming Episodes Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve's latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: ⁠⁠⁠https://www.tiktok.com/@eismanplaybook⁠⁠⁠ – Get bite-sized investing wisdom and clips from the show Instagram: ⁠⁠⁠https://www.instagram.com/eismanplaybook⁠⁠⁠– Behind the scenes, quotes, and episode highlights Website: ⁠⁠⁠https://www.eismanplaybook.com⁠⁠⁠ – Full episodes, articles, and more 👉 Don't forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: ⁠⁠⁠Collier Landry⁠⁠⁠ Producer & Publicity: ⁠⁠⁠Steven Cohen, Next Horizon Media⁠⁠⁠ Post-Production Services by Don't Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The views expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No particular results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in 'The Eisman Playbook' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount initially deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of The Eisman Playbook, Steve Eisman discusses the dramatic effects of US-China tariffs on the logistics industry with Craig Fuller, CEO of Freight Waves. The conversation explores the significant drop in container shipments from China, the resulting impact on US supply chains, and the broader economic repercussions. As companies halt new orders due to rising tariffs, empty shelves and reduced trucking volumes are anticipated, with serious ramifications for employment and various industries. With real-time data and expert analysis, this episode sheds light on the unfolding crisis and its potential long-term effects on the economy. Link to this episode on YouTube: Episode Highlights: 00:00 Introduction to Current Market Conditions 00:46 Welcome to The Eisman Playbook 01:34 Market Volatility and Earnings Week 02:31 Introducing Craig Fuller of Freight Waves 05:26 The Importance of Logistics in the Global Economy 08:07 Impact of US-China Trade Relations 15:14 The Decline in Container Volumes 26:31 The Great Freight Recession 30:06 Impact of Tariffs on US Industries 31:38 US Export Challenges 32:36 China's Trade Restrictions on Boeing 34:54 Impact on US Imports 38:42 Supply Chain Crisis and Economic Impact 41:27 Trucking Industry Slowdown 45:40 Economic Predictions and Market Reactions 53:24 Conclusion and Final Thoughts About my guest, Craig Fuller: Freight Waves website: https://www.freightwaves.com/ Craig on X: https://x.com/FreightAlley Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: ⁠⁠⁠https://www.tiktok.com/@eismanplaybook⁠⁠⁠ – Get bite-sized investing wisdom and clips from the show Instagram: ⁠⁠⁠https://www.instagram.com/eismanplaybook⁠⁠⁠– Behind the scenes, quotes, and episode highlights Website: ⁠⁠⁠https://www.eismanplaybook.com⁠⁠⁠ – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: ⁠⁠⁠Collier Landry⁠⁠⁠ Producer & Publicity: ⁠⁠⁠Steven Cohen, Next Horizon Media⁠⁠⁠ Post-Production Services by Don’t Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in ‘The Eisman Playbook' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this debut installment of the Friday Market Wrap! on the Eisman Playbook Podcast, Steve Eisman reviews the week's market performance, highlighting key movements in the S&P 500, Nasdaq, and significant earnings reports. Despite initial dips following President Trump's tariff announcements, the markets rallied. Eisman offers a detailed analysis of consumer-facing, industrial, and tech company earnings, emphasizing the pervasive economic uncertainty due to ongoing trade negotiations. Tune in for comprehensive insights and what to expect moving forward amidst the fluctuating economic landscape. 00:00 Introduction and Weekly Market Wrap-Up Announcement 00:14 Market Performance Overview 01:16 Trade Negotiations and Earnings Highlights 02:28 Consumer-Facing Companies Earnings 05:19 Industrials Sector Earnings 07:30 Tech Sector Earnings 09:36 Conclusion and Market Outlook 10:55 Podcast Teaser and Closing Remarks Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: ⁠⁠https://www.tiktok.com/@eismanplaybook⁠⁠ – Get bite-sized investing wisdom and clips from the show Instagram: ⁠⁠https://www.instagram.com/eismanplaybook⁠⁠– Behind the scenes, quotes, and episode highlights Website: ⁠⁠https://www.eismanplaybook.com⁠⁠ – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: ⁠⁠Collier Landry⁠⁠ Producer & Publicity: ⁠⁠Steven Cohen, Next Horizon Media⁠⁠ Post-Production Services by Don’t Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in ‘The Eisman Playbook' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover how Dodd-Frank reshaped banking and boosted private credit in the latest Eisman Playbook episode. Tune in to explore potential shifts in the financial landscape. Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https:// linktr.ee/eismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. Episode Production Credits Producer:  Collier Landry Producer & Publicity: Steven Cohen, Next Horizon Media Post-Production Services: Don’t Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The views expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not guarantee future results. No particular results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in "The Eisman Playbook" carry a high level of risk and may not be suitable for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount initially deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of the Eisman Playbook, host Steve Eisman is joined by banking experts Charlie Peabody and Brent Erensel from the boutique firm Portales Partners. Together, they explore the transformation of the banking industry from the pre-Great Financial Crisis era to the present. They discuss the emergence of bank stocks following the dot-com bust, the impact of the Great Financial Crisis, and the subsequent regulatory changes, including Dodd-Frank and CECL accounting. The conversation also touches on private equity and credit markets, exploring the potential risks they pose to the financial system. Finally, the hosts reflect on recent earnings seasons, discuss the potential effects of recessions, and consider the future of bank mergers and acquisitions. About my guests: Charles Peabody Brent Erensel - MD Equity Sales - Portales Partners 00:00 Introduction and Market Overview 00:18 Meet the Guests: Charlie Peabody and Brent Erensel 01:05 The Pre-Financial Crisis Banking Landscape 02:48 Post-Crisis Regulations and Their Impact 03:47 The Rise of Private Capital 04:38 Challenges in Regulating Non-Bank Financial Institutions 08:39 The Future of Bank Stocks 11:45 Historical Parallels: The Panic of 1907 15:50 Liquidity Concerns in Private Equity 22:38 Key Metrics for Bank Investing 23:31 Belief in the Book Value of Banks 23:58 Introduction to CECL Accounting 25:43 Impact of CECL on Bank Reserves 28:26 Bank Earnings and Recession Resilience 31:53 Market Sentiment and Bank Stock Recommendations 42:38 Regulatory Environment and Bank Mergers 49:49 Conclusion and Final Thoughts Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: ⁠https://www.tiktok.com/@eismanplaybook⁠ – Get bite-sized investing wisdom and clips from the show Instagram: ⁠https://www.instagram.com/eismanplaybook⁠– Behind the scenes, quotes, and episode highlights Website: ⁠https://www.eismanplaybook.com⁠ – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: ⁠Collier Landry⁠ Producer & Publicity: ⁠Steven Cohen, Next Horizon Media⁠ Post-Production Services by Don’t Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in ‘The Eisman Playbook' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of the Eisman Playbook, host Steve Eisman engages in a thought-provoking conversation with Wolfgang Münchau, co-founder of Euro Intelligence and an expert on European economic affairs. The discussion centers on Germany’s economic decline, the historical and cultural factors that contributed to it, and its broader implications for Europe. They explore topics like the shift from traditional manufacturing to digital technologies, the interconnectedness of European economies, and the potential impacts of tariffs and trade policies under President Trump. Münchau also highlights the structural weaknesses within the EU, including the complexity of its regulatory environment and the political challenges in unifying diverse economic policies. Key Episode Moments: 00:00 Introduction to Digital Service Surcharges 01:07 Welcome to the Eisman Playbook 02:13 Exploring the End of Paradigms 03:00 The German Economic Miracle 03:12 Meet Wolfgang Münchau 03:58 The State of the European Economy 06:36 Germany's Neo-Mercantilism Explained 10:03 Challenges Facing the German Economy 26:29 The Impact of Global Events on Germany 36:23 Germany's Economic Struggles 36:57 The Role of the Financial Sector 39:13 Germany's Energy Policy and Nuclear Power 42:08 Cultural Shifts in Germany 43:36 Europe's Economic Challenges 49:58 The Impact of President Trump's Tariffs 58:38 Future Trade Deals and Global Tariff Zones 01:08:12 Conclusion and Final Thoughts Watch this episode on YouTube: https://youtu.be/DJPrmT847Vo Buy Wolfgang's book on Amazon: https://amzn.to/4jqmV4e Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: https://www.tiktok.com/@eismanplaybook – Get bite-sized investing wisdom and clips from the show Instagram: https://www.instagram.com/eismanplaybook– Behind the scenes, quotes, and episode highlights Website: https://www.eismanplaybook.com – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: Collier Landry Producer & Publicity: Steven Cohen, Next Horizon Media Post-Production Services by Don’t Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in ‘The Eisman Playbook' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of The Eisman Playbook, host Steve Eisman talks with Michael Nathanson from Moffett Nathanson about the shifts in the media landscape sparked by Netflix. The discussion delves into how Netflix's international expansion upended traditional media models and how cable networks responded. They also explore the financial impact on companies like Disney and Warner Brothers, highlighting Netflix's current dominance in the streaming wars. Additional conversations cover the challenges for Google and Meta in integrating AI, the state of the cable industry, and media company consolidation. The episode concludes with recommendations on new and old streaming shows to watch. Watch this episode on YouTube: https://youtu.be/BPHQ8GpRAts Key Episode Moments: 00:00 Introduction to the Eisman Playbook 00:04 The Evolution of Media Markets 00:53 Welcome to the Podcast 01:45 Market Reactions and Guest Introduction 03:10 The Rise of Netflix 04:51 The Golden Age of Cable and Film 06:55 The Impact of Competition and Pricing 10:53 The Streaming Revolution 13:43 The Decline of Traditional Media 21:30 The Rise of Streaming Giants 33:45 The Global Scale of Netflix 39:56 Market Challenges for Warner Brothers and Paramount 40:55 Apple's Content Strategy and Challenges 43:54 Disney's Market Struggles and Streaming Strategy 47:26 Disney's Handling of Star Wars and Marvel 54:07 AI and Its Impact on Google and Facebook 01:07:13 Cable Companies in the Modern Media Landscape 01:12:14 TV Show Recommendations 01:15:50 Conclusion and Closing Remarks Michael's company website: https://www.moffettnathanson.com/ Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: https://www.tiktok.com/@eismanplaybook – Get bite-sized investing wisdom and clips from the show Instagram: https://www.instagram.com/eismanplaybook– Behind the scenes, quotes, and episode highlights Website: https://www.eismanplaybook.com – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: Collier Landry Producer & Publicity: Steven Cohen, Next Horizon Media Post-Production Services by Don’t Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in ‘The Eisman Playbook' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of the Eisman Playbook, Steve Eisman delivers a masterclass on the 2008 financial crisis, breaking down its causes, including excessive leverage in large financial institutions, the collapse of subprime mortgages, systemic ownership of the failed asset class, and the role of derivatives. Steve discusses how banks’ leverage works, the evolution of subprime lending, and Wall Street's role and response during the crisis. He also touches upon the regulatory response post-crisis, the Dodd-Frank Act, the evolution of bank regulations, and the transformation in the financial landscape over the past 17 years. Steve concludes with reflections on current market conditions, trade tariffs under the Trump administration, and forecasts on the future of banking and regulation. 00:00 Welcome to the Eisman Playbook 00:15 Introduction to the Financial Crisis 01:42 Understanding Bank Leverage 10:14 The Role of Risk-Weighted Assets 16:49 Subprime Mortgages Explained 20:32 The Rise and Fall of Subprime Mortgages 26:45 The Data Behind the Crisis 29:32 The Onset of the Financial Crisis 31:29 Wall Street's Role and Misjudgments 34:03 The Impact of Derivatives 38:16 Personal Involvement and Market Collapse 39:19 Government Interventions and Bailouts 48:50 Post-Crisis Regulations and Reforms 55:12 Current Events and Future Predictions Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: https://www.tiktok.com/@eismanplaybook – Get bite-sized investing wisdom and clips from the show Instagram: https://www.instagram.com/eismanplaybook– Behind the scenes, quotes, and episode highlights Website: https://www.eismanplaybook.com – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: Collier Landry Producer & Publicity: Steven Cohen, Next Horizon Media Post-Production Services by: Don’t Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in ‘The Eisman Playbook' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

Steve Eisman, joined by former partners Danny Moses, Porter Collins, and Vincent Daniel, delve into recent market upheavals caused by President Trump's tariff announcements. They analyze the implications of these policies, the reaction of global markets, and the potential for a bear market. They also reminisce about their time depicted in The Big Short, discussing stories and strategies from the 2008 financial crisis. The episode offers a rich mix of market analysis, economic theory, and personal anecdotes. Watch this episode on YouTube: https://youtu.be/3VqQ8glQSFM 00:00 Introduction to the Episode 02:01 Market Turmoil and Panic 02:39 Impact of Tariffs and Trade Wars 06:02 Bear Market Strategies and Predictions 18:21 Historical Market Crashes and Lessons 22:07 Government Response and Market Reactions 22:43 Trump's Trade Policies and Economic Impact 28:14 Debating the Future of the Market 30:49 Negotiation and Phone Calls 31:17 Understanding Credit Spreads 32:13 Financial Crisis and Market Dynamics 36:59 Reminiscing Early Careers 46:18 The Big Short and Subprime Crisis 51:14 Memorable Meetings and Interactions 59:06 Conclusion and Farewell Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: https://www.tiktok.com/@eismanplaybook – Get bite-sized investing wisdom and clips from the show Instagram: https://www.instagram.com/eismanplaybook– Behind the scenes, quotes, and episode highlights Website: https://www.eismanplaybook.com – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: Collier Landry Producer & Publicity: Steven Cohen, Next Horizon Media Post-Production Services by: Don’t Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in ‘The Eisman Playbook' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

Trump Announces Sweeping Tariffs, Calling It a "Declaration of Economic Independence" Join Big Short Investor Steve Eisman and special guest Dan Clifton from Strategas as they dissect the latest market turmoil caused by President Trump's unexpected tariff announcement. Recorded on April 3, 2025, this episode dives deep into the intricate implications of the new tariff plan, covering its impact on the global economy, US policy, and the stock market. With his vast experience in policy research, Dan Clifton provides a detailed analysis of the market's reaction, potential future scenarios, and the strategic shifts in US foreign policy. This comprehensive discussion also explores the roles of domestic fiscal policy, Fed actions, and the evolving political landscape. Don't miss this detailed episode that breaks down complex economic policies into actionable insights. Watch this episode on YouTube: https://youtu.be/9NbEyF5Q8XM Episode Highlights: 00:00 Introduction to the Eisman Playbook 00:06 Market Reactions to Trump's Tariff Plan 00:31 Guest Introduction: Dan Clifton from Strategas 00:38 Understanding Boutique Research Firms 01:17 Dan Clifton's Background and Role 03:00 Trump's Unconventional Political Moves 03:20 Impact of NAFTA and Trump's Trade Policies 04:31 Details of Trump's New Tariff Announcements 05:47 Global Trade Implications and Country-Specific Tariffs 07:05 Strategas' Analysis of Tariff Impacts 11:18 Potential Retaliation and Global Trade Dynamics 13:48 Economic and Political Repercussions 17:47 Tax Cuts and Revenue from Tariffs 22:19 Federal Reserve's Role and Monetary Policy 26:00 Personality and Process in Trade Policy 27:27 Market Reactions and Congressional Responses 29:32 Budget Reconciliation and Economic Shifts 33:59 Democratic Party Dynamics Post-Trump 39:53 US-Europe Relations and Defense Spending 46:33 Future Economic and Political Moves Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: https://www.tiktok.com/@eismanplaybook – Get bite-sized investing wisdom and clips from the show Instagram: https://www.instagram.com/eismanplaybook– Behind the scenes, quotes, and episode highlights Website: https://www.eismanplaybook.com – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Producer: Collier Landry Producer & Publicity: Steven Cohen, Next Horizon Media Post-Production Services by: Don’t Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in ‘The Eisman Playbook' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices

I'm Steve Eisman and welcome to my podcast The Eisman Playbook. In my 35 years of experience of investing in markets, I've seen many ups and downs. You might know me because I was depicted in the book The Big Short, by Michael Lewis and portrayed by Steve Carell in the movie of the same name. In this podcast, we are going to explore and analyze market trends. Companies and sub-sectors through various guests in and around the financial world. My goal here is simple to educate, so come and join me as I share with you the Eisman playbook. Social Media and Website Links: https://www.steveeisman.com Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: https://www.tiktok.com/@eismanplaybook – Get bite-sized investing wisdom and clips from the show Instagram: https://www.instagram.com/eismanplaybook– Behind the scenes, quotes, and episode highlights Website: https://www.eismanplaybook.com – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: Collier Landry Producer & Publicity: Steven Cohen, Next Horizon Media Production Company: Don’t Touch My Radio Disclaimer: The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in ‘The Eisman Playbook' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money you can afford to lose. Derivatives are unsuitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell, or retain any specific investment or service. Learn more about your ad choices. Visit megaphone.fm/adchoices