Steve Eisman, the senior portfolio manager at Neuberger Berman and the inspiration for the main character in the movie “The Big Short,” recently shared his views on the upcoming US presidential election and his investment strategy. He also mentioned that cryptocurrency is one of the three great themes of our time, although he remains skeptical about it.
Steve Eisman became famous for shorting collateralized debt obligations (CDOs) during the US housing bubble collapse from 2007 to 2008. In a recent Bloomberg TV interview, 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 three important themes are currently defining our era. He questioned whether cryptocurrencies qualify as currency, noting that cryptocurrency supporters often highlight the drawbacks of fiat currencies and describe Bitcoin as “digital gold.” Eisman commented, “That’s their argument.” He observed that cryptocurrencies like Bitcoin “operate in a way that’s exactly the opposite of their argument,” and added, “It’s about 75% correlated with the Nasdaq index.”
During the discussion, Eisman presented a nuanced investment perspective, emphasizing a cautious and knowledgeable approach to emerging technologies and market trends. He dismissed the idea of having a unique advantage, believing that the real advantage lies in interpreting common facts differently. While skeptical about cryptocurrency, Eisman is 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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