'Big Short' investor Steve Eisman: The U.S. economy is more dynamic than its ever been in history
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- čas přidán 12. 06. 2024
- Steve Eisman, Neuberger Berman senior portfolio manager, joins 'Squawk Box' to discuss the latest market trends, state of the economy, Apple's AI play, state of the 2024 election, and more.
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The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy
Monica Shawn Marti is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
Loved every second of my watch to the very end. You are a great teacher. I’m 36 and own a small business with $380K in savings. But I'd still love to grow my investments ahead of retirement. Do you mentor others? Really need some guidance to financial freedom.
Just buy BITCOIN and hold. Or gold, or find quality stocks that have long term potential, and ride with those stocks. But advisably, just seek counsel from a market strategist.
Agreed, this is why i now work with one. I’ve been investing by myself in the market for 11 years now, but the last 6 years is with the help of a financial planner. Throughout the 6 years of guidance alone, I've been fortunate enough to 10x my return as a DIY investor, summing up nearly $1.4m roi as of today.
Please who guides you on the process of it all?
She's known as a 'Michele Katherine Singh'. One of the finest portfolio managers in the field also widely recognized. Just research the name. You’d find necessary details to work with and set up an appointment.
Thank you for sharing. I just scheduled a phone call with her. She seems proficient considering her résumé.
Our economy is struggling with uncertainties, housing issues, foreclosures, global fluctuations, and the pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.
With my demanding job, I lack time for investment analysis. For seven years, a fiduciary has managed my portfolio, adapting to market conditions, enabling successful navigation and informed decisions. Consider a similar approach.
This is definitely considerable! Do you think you could suggest any professionals or advisors I can get on the phone with? I'm in dire need of proper portfolio allocation.
@@BrianAlbert-hh3pi Just research the name Desiree Ruth Hoffman. You’d find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
The current market/economy is unnecessarily tougher for boomers/senior citizens, I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
Just buy and invest in Gold or other reliable stock , the government has failed us and we cant keep living like this.
Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.
I envy you, I’m still trying to recover from losses I incurred in 2021/2022, who is this investment adviser you work with, I’m intrigued and I could use some quality guidance
Finding financial advisors like “Sharon Lynne Hart* who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
*Sharon Lynne Hart* is the licensed advisor I use. Just search the name. You’d find her webpage and necessary details to work with to set up an appointment.
Thx for the info. It's very useful. Last time, I also came across unimantic, and financially, it has been very helpful for me.
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the Dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.
With my demanding job, I lack time for investment analysis. For seven years, a fiduciary has managed my portfolio, adapting to market conditions, enabling successful navigation and informed decisions. Consider a similar approach.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Just research the name Angela Lynn Schilling. You’d find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
I remember when Steve said 2 years ago that GM was leading Autonomous Driving. His over confidence is comical.
I just looked at the GM chart. Looks like a promising long IMO
You need to do better.
Americans are facing a tough time with their finances, especially concerning housing affordability and retirement savings.
I'm getting worried about the rising housing prices. It seems like it's becoming harder to afford a home these days.
Yeah, it's a real struggle. With the rising housing prices and stagnant wages, it's becoming increasingly difficult for many to afford homes, let alone save for retirement.
Absolutely. And with the fear of not being able to retire comfortably, people might be tempted to make risky investments or neglect proper financial planning, which could spell trouble for their portfolios in the long run.
It's a vicious cycle. If people can't afford homes, they might delay retirement savings, but if they focus solely on saving for retirement without considering their housing situation, they might miss out on potential investment opportunities.
And let's not forget how the global economy plays into all of this. Economic instability, inflation, and market fluctuations can further complicate matters and add to people's financial worries.
He said banks are uninvestable and he wouldn’t buy home builders in October of last year, literally the bottom of both sectors. He gets some things right, some things wrong, and always has caveats when he’s not sure. I really don’t think he’s that much better than any other talking head on CNBC, regardless of his involvement in the Big Short.
Yeah him and Christian Bale kind of look like one-trick Ponies
That’s not true what ya sayin. Eisman repeatedly said for many years that banks are significantly better than they were during the financial crisis. The credit, capitalization req’ts are much better and from time to time he recommended some banks for investment portfolios. Though, I agree that he was wrong about Tesla. Imho.
I am aligned w his rate cut outlook.
He is not a talking head on CNBC. He is an infrequent guest. He is also nuts.
“I’m not going to tell you what [the companies I believe will benefit] are because I haven’t bought them yet.”
This statement and the fact that it was taken as standard operating procedure by all present, is why it’s generally a bad idea to buy what everyone talks about with excitement. It means they already bought.
4:40 he’s right. You’ve now got semiconductor companies like Broadcom, Synopsys, Cadence Design making huge M&A to vertically integrate software applications along with their hardware offerings. Software has historically had the high margins and reoccurring revenue working in its favour as opposed to the cyclicality of hardware but unlike hardware it’s not a really a specialized high MOAT, high barriers to entry sector quite like chip design & manufacturing.
The Graph GRT ☢The Ai Google of Web3 ☢
He was spot on with his apple call earlier
Yessir. I took his advice on aapl:)
Government spending wont last Steve, this economy is being artificially propped up.
What do you mean by artificially?
For biden’s election at expense of middle class people
Like when Trump browbeat the Fed into injecting over $8 trillion of quantitative easement as the pandemic loomed?
@@Ken-jg9kp he means by the government is spending a lot of money that it doesn’t have. It can’t last forever it will crash soon the economy is not that great the jobs numbers are not real full time work
Not soon. About 2030 that its when social security trust depletes. Then we will see who willhave buying power to buy trillions of yearly deficits
Steve is the man.
His election prediction is lunacy.
Agreed. What was that "death to america" line?!? We need a president that will prepare us for the future - AI, EVs, Robots, Solar, Blockchain... I can't imagine Trump being up to the job.
@@andrewvh6809 He is saying the "death to america" line will help Trump get elected. He is just forecasting what protestors will likely be saying in chicago on that day. So since most voters are easily influenced. Those images will play into the Trump "make America great again" narrative. To your point saying that Trump will be up for the job. Proves Steve's point. Hence why, Trump will get reelected again.
@@andrewvh6809 Everything is a go, we don't need some psycho to screw it all up for us, another covid? No thanks.
@@andrewvh6809much better than Biden.
I'm voting for sleepy Joe but I think he's right. The protesters are going to turn away a lot of independent voters, more so than trump's 34 felonies. The poll numbers look bleak. I hope I'm wrong...
That was a great analysis
He is absolutely honestly on point.. i am all in on apple..
I see Becky reading news and it just gives me sigh of peace and satisfaction😊❤
damn...what steve is saying; exactly what i been thinking
Listen to this man! "It's all pie in the sky" "it's a story" "we can say whatever we want" "nothing exists yet"
Is the Economy strong despite high rates and QT because of high fiscal spending?
NO Real Earnings from big tech and well guess the rich will have to pay some taxes to keep us little guys alive....
The Bulls charging through the EV sector in June. Tesla and FSRN.. Fisker green this week. Lillium Evtol Jets..Idex.. Ideanomics...Xos Trucks... Lucid... Polestar.. Rivn.. Rivian and more.
You are a shining star in the CZcams galaxy!
I do not think AI replaces Cadence, Synopsys or similar companies. These companies help the AI market grow.
Its like talking to some grunt, got nothing of value out of that blubber.
His election prediction really shows you how out of touch he is loll😂
Ridiculous jibrish. He obviously hates democrats 🙄
@@bobbyt7448 No he hates that the nut job protesters in the party are wagging the dog.
Question for all… Have a buddy who’s big on the housing market says now’s the time to buy. What would you say to those type of people?
"Steve Eisman" is an anagram for "Massive Teen". Ed: or alternatively, "Seventies Ma", or "Vast Enemies", or if you prefer, "Semen's Vitae". o/
Massive liar.
This dude used to be bearish now he’s a bull at the top of the market
Everyone calling for a top tells you that we’re nowhere close.
He is making a new "big short".
@@robertjohnson-mt8pz He's running a long only fund.
Steve and Tom Lee - The minute Show please...
What i don't understand is, all the focus on the upstream-side of the AI wave. Yes, energy companies and datacenter providers gonna benefit, but the gains on the downstream side, which we haven't really seen yet, will be gigantic. Helpdesk centers will become practically unmanned, many jobs will get a tremendous productivity boost or quality boost because human intellect will be infused by LLM's, whom will increase in quality every quarter with practically no time to market. I focus on the broad S&P500 for where the real AI gains will be in the next, say, 3 to 5 years. Building up a position to profit from that increased competitive advantage for companies.
My wife and I are upgrading our iPhones this year.
If the US economy is so dynamic, why is it dependent on deficit spending at wartime levels just to post a negative real GDP number?
I had the same idea as Steve. You still need devices to access AI. Apple sells the best mobile devices.
We will see if his prediction is right after the FED pivots. The last 5 recessions happened after, not before the pivot. Interestingly he does not mention this.
When billionaires start talking about how bullish they are, it’s usually the sign to start pulling out. Ask yourself, why now? Why are they providing interviews now, when the markets are quite literally at all time highs and pushing through? Why, if there was this extreme bullish sentiment would there not have been this positive attitude at the October lows? There was more discussion about a pending recession at that point, and the market rallied from there. Inverse billionaire rhetoric, always.
Yup. When people start saying how amazing everything is, is when you start looking for the exit. They want the markets to rise so they can clear their positons
Whatever you do - stay away from advisor Bruce Murdock. He told me to short Apple every week for the last 5 years. I used to have $5.6M. Because of advisor Bruce Murdock I now have only $12
Anyone shorting AAPL is not to be trusted.
Internet advisors are all scam if you don't have a brain to figure that out, all bots and comments praising them also bots. CZcams really has to clean up if don't want competition to come and wipe them out.
Lol
Are you sure his name wasn't Dan Nathan or Dan Niles?
@@user-yq7rr9lh9c Or Tony Sagonocchi until recently. There was another fool who told everyone to sell in February.
iPhone 15 pro will be fine at start, As apple move more processing onto the phone or other devices, The need to upgrade to later processors will be needed as the current models will be expanded
1:22 💯% investing can be incredibly difficult and complex. Sometimes it’s so simple though.
Steve Eisman snorts coke before the bell.
why is he getting so much Airtime? Have been asking for months now!
But is the market overvalued?
Steve tends to shy away from words like “I think” and “probably”
cost of making high end AI software shouldn't be a concern as these are developed in cloud IaaS, SaaS datacenters!! in fact in a short term will again be a high margin business once tools creating the software evolve overtime.
Whats not to be lucky about Steve asks? Debt levels in the short term, and the global movement away for the dollar in the medium to long term. When treasuries aren't the play of choice for the bulk of reserve surpluses that is a showstopper.
Still happy with my IPhone 12 Pro. Won't be upgrading anytime soon until I see some major changes and upgrades. Maybe in around 4-5 years.
CZcamsrs get so mad when you talk about the reality of a good market/economy because most didn’t participate and have there 100 reasons why we are screwed. The same people that have said we are screwed my entire life. I’m waiting…
Steve had someone come to his office and tell him the opportunity, actually do a presentation on how the housing market was going to collapse and thats the only reason he made money back then.. why people hail him of being smart??? Its like someone telling you the next winning lottery numbers and you go and play it
Good luck with that
Eisman's got a real nose for investing. 👃
3:21 3:23 3:23
Scott Morton Rule on IT competitive advantage returns….
The tremendous budget deficit and national debts will lift the stock markets
AI is not going to save most working people’s lives. Just because Nvidia and Microsoft are at record highs, that doesn’t make everyone richer and more prosperous.
I am very disappointed in Steve. Do people acutely think ai on the phone or computer? The phone or computer sends a message to the servers in the cloud and you get the answer back to your device . No need for extra power or memory needed on your device
Eisman just misses being famous from a movie that made him look smarter than he was.
Investors are extremely alarmed by the impending recession and the Fed's rhetoric of raising interest rates. My $600,000 stock portfolio has lost 25% of it’s value. Whats the best way to hedge my portfolio to make profit in this coming recession
It seems like there's potential, but caution is warranted. hence I will advice you get yourself a financial advisor that can provide you with entry and exit points
Opting for an inves-tment advisr is currently the optimal approach for navigating the market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022
could you share more info please on the advisor that guides you
Lauren Marie Ehlers is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
I looked up her name online, went to her website, and sent her an email to arrange a meeting. I'm grateful.
Not saying theres a bubble but every single investment story has been pumped, then dumped in recent years
Buy Arm it powers everything from phone, laptops and anything machines. We are headed to Edge Cloud which is everything Arm powered!!
I will only say: *On June the 9th 2024 Saudi Arabia BROKE the Petrodollar agreement!!!* :O
Yeah, the end is near.
BEWARE: This dude isn't honest
Good discussion. It’s interesting Eisman doesn’t mention (or believe?) that the upcoming change in administration will cause great reduction in government regulations, spending, and taxes which would ALL be beneficial to markets and consumers.
That's if they don't fight him tooth and nail on everything.
Sounds like he wants to unload his positions.
The Fed is playing this market like a fiddle
No apple will not be in the forefront of new tech. Remember they let other players take the risk first. They observe then improve it when they implement it into their products. So they'd be a couple yrs behind.
It's some extra mental gymnastics that the american voters would have to do to equate anti-Israel protests to a certain party, when both parties are ultra pro-Israel radicals lol
Moral relativism. I don't believe pro-Hamas protesters form much of a constituency in the Republican Party. To the contrary the religious right of the Republicans are borderline sycophants to Israel
he's creepy
That is an unbelievably stupid thesis (hardware is more profitable than software). But, hey, the market doesn't care about stupidity.
Well, Sir, step outside the smoke and mirrors and look at things the way they really are!
3:20
this guy put his nose in the vaccum cleaner hose 30 min every day for the last 10 years, if you want one like that, now you know how
Jeamine presiden corte aprobado sien mil miyone migrasion pasaporte
this guy kinda seems delusional. i’m not sure so many people are going to go out and upgrade to a $1000+ phones and $1500+ laptops just so they can use chatgpt integration lmao.
Yea the whole word only uses Apple... Open your eyes people Android is far better.
'President Trump's reelection is a certainty' umm... I think CNBC would benefit from a greater diversity of perspectives. Rather than be so entrenched in the mostly white, hyper-priviliged bubbles, maybe speak to some folks that actually have more connections with 21st century 'Main Street' America?? I follow the markets, and I'm available!
I like Steve Carrell better
I prefer android 100x over
I love my girl
She’s cheating on you bro
😂 same story as the the 5G cycle I’m still waiting for 1G🤣🇺🇸🧠🧼🍻🦤
Doubtful that people will need AI so desperately that they'll "need" to upgrade their phones or other devices
Says he doesn’t know tech, then comes up with these dubious takes. Software, hardware, apple go figure.
More dynamic only for rich people who own stocks and multiple houses 😂
This has always been the case.
The U.S. economy since GFC is something else. Best economy in the world.
Short Salesforce
🤣🤣🤣 the economy is in shambles.
You have to upgrade...god I love capitalism.
I think he may be wrong especially that if Trump wins the markets won’t care
oh dear. The U.S. economy is dynamic because rich people keep buying overpriced Apple products.
Nothing better than enjoying a beer and watching the Democrats eat their own
Last bear becomes bull...
He lost all credibility when he said Trump will definitely win.
Vote Biden
The ability of your phone to replace chatGPT is about 50 years away. That said it doesn't have to completely to add value. Grey as always
There’s an apostrophe in “it’s”.
Only when it's a contraction for it is.
Steve is worry about bringing the Israewl flag but not the city of Ga£a. Hypocrisy.
Eisman should be locked up for pretending he has a brain. He has now surpassed the crackpot level.
I have 14 pro and I ain’t upgrading
I have an iPhone 12 working just fine lol…. Wallstreeters smh
This Guy Supports Criminals? He does look like a Mafia Kingpin