The protagonist of the movie “The Big Short,” Steve Eisman, who is a senior portfolio manager at Neuberger Berman, recently shared his insights on the upcoming US presidential election and his investment strategy. He also mentioned that cryptocurrency is one of the three major themes of the current era, although he remains skeptical about it.
Steve Eisman became famous for shorting collateralized debt obligations (CDO) during the US housing bubble collapse in 2007-2008. In a recent Bloomberg TV interview, Eisman stated, “At this moment, it is 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 three important themes currently defining our era. He said, “Cryptocurrency has been questioned as a currency. Its supporters often highlight the flaws of fiat currency and describe Bitcoin as ‘digital gold.’ This is their argument.” He observed that cryptocurrencies like Bitcoin perform “precisely the opposite” of their own argument, with a correlation of about 75% to the Nasdaq index.
Eisman further stated, “So, in my view, cryptocurrency is just another way for people to speculate on speculation.”
During the discussion, Eisman presented a nuanced investment perspective, emphasizing the need to approach emerging technologies and market trends with caution and knowledge. He rejected the notion of having a unique advantage, believing that true advantage lies in interpreting common facts differently. While skeptical about cryptocurrency, Eisman remains optimistic about the potential of AI and the urgent need for technological advancements in everyday devices like smartphones.
Source: Bloomberg, Bitcoin.com
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