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United States Steven Eisman is an American businessman and investor renowned for his accurate prediction and profitable shorting of collateralized debt obligations leading up to the 2008 financial crisis. He offers insights on economic trends and appears on financial podcasts.
Steven Eisman was an investor at FrontPoint Partners, a subsidiary of Morgan Stanley, where he gained prominence for shorting collateralized debt obligations (CDOs) before the 2008 financial crisis. He managed over $1 billion for the firm.
Eisman founded Emrys Partners in March 2012 with $23 million in seed capital, operating as a hedge fund. The fund was later shut down in July 2014.
In September 2014, Eisman joined Neuberger Berman as a managing director and portfolio manager for the Eisman Group, focusing on managing stock portfolios for wealthy clients.
Steve Eisman hosts 'The Real Eisman Playbook' podcast, where he discusses economic trends and financial analysis, including his views on the U.S. economy and AI's impact.
Mentioned by Eisman in discussions about AI and data, Accenture is noted as a Palantir partner, indicating a connection within the broader technology and financial ecosystem Eisman analyzes.
Steven Eisman was born on July 8, 1962, in New York City. He pursued his higher education at the University of Pennsylvania, graduating magna cum laude in 1984, then obtained his Juris Doctor from Harvard Law School with honors. Initially working in law, Eisman transitioned to finance with the support of his parents, Elliott and Lillian Eisman, who were brokers at Oppenheimer Holdings. They arranged a position for him as an equity analyst at Oppenheimer, covering his first year’s salary due to internal anti-nepotism rules.
Eisman’s career gained significant recognition for his investment strategy betting against collateralized debt obligations (CDOs) prior to the 2007–2008 U.S. housing bubble collapse. He executed this strategy while at FrontPoint Partners LLC, a subsidiary of Morgan Stanley, where he managed over $1 billion by 2010. His work and insights during this period were chronicled by author Michael Lewis in the 2010 book “The Big Short: Inside the Doomsday Machine.” In the 2015 film adaptation, Eisman’s character, Mark Baum, was portrayed by actor Steve Carell. After leaving FrontPoint Partners in 2011, Eisman founded Emrys Partners in March 2012. This fund, which started with $23 million in seed capital, was shut down in July 2014, with Eisman noting that “making investment decisions by looking solely at the fundamentals of individual companies is no longer a viable investment philosophy.”
In September 2014, Eisman joined Neuberger Berman as a managing director and portfolio manager for the Eisman Group, a division focusing on managing stock portfolios for wealthy clients, including partners such as his parents. Beyond his investment activities, Eisman was also a prominent critic of the for-profit education industry, likening their loaning practices to the issues he observed in the subprime mortgage industry. His advocacy against these institutions involved presentations and testimony that contributed to increased scrutiny and regulatory actions by the U.S. Department of Education against companies like Apollo Education Group and Corinthian Colleges.
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