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The Real Eisman Playbook

Steve Eisman

The Real Eisman Playbook is your front-row seat to the insights, strategies, and perspectives of legendary investor Steve Eisman. Best known for predicting the 2008 financial crisis, Steve brings his sharp analysis and no-nonsense approach to dissecting the markets, global economy, and investment trends shaping the future. Whether you’re a seasoned investor or just curious about how the financial world really works, The Eisman Playbook delivers the knowledge you need to stay ahead. Tune in for expert commentary, candid conversations, and actionable takeaways from one of Wall Street’s most influential minds.

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  • 30 episodes
  • a few times a week
  • Avg 39 min
  • English

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  • Yesterday · 51 min

    Stock Picking in Difficult Times with George Noble | The Real Eisman Playbook Ep 76

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 76 of The Real Eisman Playbook, Steve Eisman sits down with George Noble, former portfolio manager at Fidelity and now a Substack newsletter writer, for a wide-ranging conversation covering Scott Bessent's attempt to repress interest rates, the yen carry trade, the Tesla/SpaceX struggles, and much more. 00:00 - Intro 01:18 - Scott Bessent & Interest Rates 13:00 - The AI Ecosystem 21:35 - The Dollar Yen Trade 30:57 - The Current Investing Environment 36:33 - Tesla & SpaceX 46:14 - Outro Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • Friday · 24 min

    Why Dario Amodei and Sam Altman Are Faking the AI Doomsday Crisis | The Weekly Wrap

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman explains why the recent extinction warnings from Dario Amodei and Sam Altman are not genuine concerns about superintelligence, but rather a deliberate shell game designed to invite government regulation and create pricing moats. Steve also covers the Fed raising rates 25 basis points to a range of 3.75%-4%, the Senate blocking the Clarity Act, an update on his FICO short, and answers two mailbags on how individual investors can diversify away from AI exposure without abandoning equities. 00:00 - Intro 01:55 - Iran War Updates 02:14 - Fed Raises Rates 04:47 - FICO Short Update 07:08 - Crypto Takes a Hit 07:53 - The AI Extinction Warnings 15:36 - Mailbag: P&C Insurance 19:36 - Mailbag: Growth in Europe 21:03 - Outro Watch my Financial Literacy Masterclass video here: https://youtu.be/u8chA7LC8lU Watch my Masterclass on the 2008 Financial Crisis here: https://youtu.be/4bSCdJTbR8I Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • September 14 · 53 min

    The Big Short Partners Reunite: Rates, AI, Gold and Two Stock Picks | The Real Eisman Playbook Ep 75

    On episode 75 of The Real Eisman Playbook, Steve Eisman sits down with his former Big Short partners Vincent Daniel and Porter Collins for a wide-ranging conversation covering the bond market, Scott Bessent's Treasury buyback program, the OpenAI risk, gold, and more. They also pull back the curtain on the mechanics of modern hedge fund shorting and share two live short ideas. 00:00 - Intro 00:50 - Scott Bessent & the Treasury 12:57 - AI 21:55 - Shorting 38:10 - Golar & Glass House 45:21 - Last Words Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • September 11 · 24 min

    AI Terminator Fears Grow & Rates Breach 4.9% | The Weekly Wrap

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman breaks down the ten-year yield breaching 4.9%, the recent AI doomsday fears, OpenAI's surprise price cut on its latest model, Oracle's strong 30% revenue growth, Tesla's disappointing robotaxi event that sent the stock down 6%, and much more! 00:00 - Intro 02:51 - Iran War Updates 03:33 - Scott Bessent 06:59 - Will AI Destroy Us All? 08:57 - Tesla's Robotaxi Announcement Disappoints 10:22 - The Ed Zitron Interview 13:14 - OpenAI Cuts Their Prices 14:40 - Qualcomm & Amazon Make an Arrangement 16:16 - Oracle Reports 17:15 - Bill Pulte Goes After FICO Again 17:56 - Macy's & GameStop Report 19:28 - Mailbag: Gold 20:58 - Outro Watch my Financial Literacy Masterclass video here: https://youtu.be/u8chA7LC8lU Watch my Masterclass on the 2008 Financial Crisis here: https://youtu.be/4bSCdJTbR8I Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • September 7 · 46 min

    P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 74 of The Real Eisman Playbook, Steve Eisman sits down with Ryan Tunis, property and casualty insurance analyst at Cantor, for a comprehensive deep dive into personal lines, commercial lines, reinsurance, and insurance brokers. Ryan explains why he's cautious on personal lines as new driver assistance technology drives down accident rates and pricing, why the commercial lines market is entering a soft cycle that favors travelers over Chubb, and why AIG is the most interesting self-help story in the group trading near book value. 00:00 - Intro 01:54 - Parts & Dynamics of the P&C Sector 12:35 - Personal Lines 16:33 - Commercial Lines 30:31 - Reinsurance 32:32 - Insurance Brokers & AI Risk 36:10 - Trupanian 38:28 - Kinsale 41:30 - Outro Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • September 4 · 26 min

    Is OpenAI the Achilles’ Heel of the US Economy? | The Weekly Wrap

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman breaks down the economy’s growing dependence on AI spending. He explains why OpenAI could be the Achilles’ heel of the AI trade, and what its potential failure could mean for the broader economy. Plus, Steve discusses Meta’s latest settlement, where investors could find safety, and more. 00:00 - Intro 02:53 - War, Oil, & Interest Rate News 03:48 - The Dystopian AI Ending, CapEx, & OpenAI 16:41 - Nvidia 18:33 - OpenAI's ARR 19:38 - Meta 22:22 - Book Recommendations 22:56 - Outro Watch my Financial Literacy Masterclass video here: https://youtu.be/u8chA7LC8lU Watch my Masterclass on the 2008 Financial Crisis here: https://youtu.be/4bSCdJTbR8I Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • August 17 · 45 min

    The AI Trade, Rising Rates, and Why the Market Is Still Standing | The Real Eisman Playbook Ep 73

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 73 of The Real Eisman Playbook, Steve Eisman sits down with Jason Trennert & Chris Verrone from Strategas for a wide-ranging mid-year reality check on a tumultuous 2026. They cover the AI capex debate, the war in Iran, private equity's monetization problem, and why the market has proven far more resilient than most expected. 00:00 - Intro 01:37 - The Year So Far 09:06 - The Fed, Leadership, & Private Equity 13:58 - The War in Iran, Oil, & China 16:55 - AI, Software, Meta, Amazon, & Microsoft 29:22 - Banks 31:43 - Europe 35:57 - Defensive Sectors 38:48 - Closing Thoughts Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • August 14 · 30 min

    AI’s Achilles’ Heel: Why Everything Hinges on Anthropic & OpenAI | The Weekly Wrap

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com On this episode of The Weekly Wrap, Steve Eisman examines the biggest risks facing the AI boom, with a focus on Anthropic and OpenAI and their growing importance to the hyperscalers. He also discusses investing in uncertain markets, the battle between upstarts and established businesses, the future of software, and why he thinks Bitcoin has lost its edge. 00:00 - Intro 03:13 - Iran War Updates 03:57 - Investing Now in Uncertain Times 05:35 - AI Check In 10:25 - Timing is Everything 11:25 - Software Check In 12:05 - Earnings: CoreWeave, Cisco 13:43 - Entrenched Businesses vs Upstarts 24:58 - Outro Watch my Financial Literacy Masterclass video here: https://youtu.be/u8chA7LC8lU Watch my Masterclass on the 2008 Financial Crisis here: https://youtu.be/4bSCdJTbR8I Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2025 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • August 10 · 50 min

    Private Credit's Clock is Ticking w/ Glenn Schorr & Ken Worthington | The Real Eisman Playbook Ep 72

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 72 of The Real Eisman Playbook, Steve Eisman sits down with Glenn Schorr of Evercore and Ken Worthington of JP Morgan for a sweeping deep dive into the ticking time bomb in private credit software loans, agentic AI's impact on retail brokers, crypto use cases and Bitcoin's fading relevance, and a summary of bank earnings. 00:00 - Intro 03:12 - Retail Brokers, Cash, Agentic AI, & Banks 15:00 - Private Equity & Private Credit 28:15 - Crypto 36:06 - Stablecoins 42:21 - The Big Banks Reported 44:59 - Outro Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • August 7 · 21 min

    SpaceX Disappoints, AI's Free Cash Flow Shrinks, Meta Struggles | The Weekly Wrap

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman breaks down the week in markets, including SpaceX's highly anticipated earnings, the growing impact of AI spending on free cash flow, and why Meta continues to struggle while Palantir, Microsoft, and Amazon tell a different story. He also examines the collapse of the Situational Awareness hedge fund, private credit, and the biggest earnings reports of the week. Plus, Steve shares his personal TV recommendations. My full list of TV show recommendations: https://drive.google.com/file/d/1NC6nxggLE_6FdaVjcB3Gw_DosbAZWZ3w/view?usp=sharing 00:00 - Intro 02:36 - Iran War Updates 02:28 - The Demise of the Situational Awareness Hedge Fund 06:35 - Capex & Free Cash Flow 07:35 - Private Credit 08:13 - Palantir 09:55 - Apollo 10:30 - Caterpillar 10:56 - SpaceX 13:05 - Lilly & Novo 13:30 - Arista 14:31 - AMD 14:50 - Disney 15:16 - TV Recommendations 16:51 - Outro Watch my Financial Literacy Masterclass video here: https://youtu.be/u8chA7LC8lU Watch my Masterclass on the 2008 Financial Crisis here: https://youtu.be/4bSCdJTbR8I Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2025 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • August 3 · 51 min

    250 Years of American Capitalism: Hamilton, the GFC, & the AI Boom | The Real Eisman Playbook Ep 71

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 71 of The Real Eisman Playbook, Steve Eisman sits down with Adrian Wooldridge, journalist and co-author of Capitalism in America with Alan Greenspan, to mark the 250th anniversary of American independence with a sweeping tour of U.S. economic history, from the Hamilton vs. Jefferson debate that shaped the country's trajectory, to the causes of the Great Depression and the Great Financial Crisis. You can purchase "Capitalism in America" here: https://www.amazon.com/Capitalism-America-History-Alan-Greenspan/dp/0735222444 00:00 - Intro 01:36 - Adrian's Background 04:58 - Writing with Alan Greenspan 07:21- The First Economic Debate of the United States 14:58 - The Impact of the Railroad & AI Parallels 22:56 - Crashes Before The Great Depression 25:58 - Robber Barons 34:26 - The Great Depression 37:56 - The Great Financial Crisis 46:00 - Major Lessons 49:16 - Outro Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • July 31 · 27 min

    The AI Debate Gets More Complicated: Microsoft Has a Win, Meta Stumbles | The Weekly Wrap

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman covers a massive earnings week headlined by Microsoft posting 30% EPS growth while Meta saw EPS fall 13%. Steve also covers results from Visa, Quanta, Bloom Energy, and Starbucks, a disappointment from Apple, a brutal week for FICO, and much more. He also takes a mailbag question about the history of the K-shaped economy. 00:00 - Intro 01:47 - I'm Selling Charter 03:41 - Iran Update 03:50 - The Fed 04:09 - The AI Debate 10:17 - Earnings: Visa, PayPal, Microsoft, Meta, Starbucks, Robinhood, & More 20:09 - Situational Awareness 21:20 - Mailbag: The K-Shaped Economy 22:57 - Outro Watch my Financial Literacy Masterclass video here: https://youtu.be/u8chA7LC8lU Watch my Masterclass on the 2008 Financial Crisis here: https://youtu.be/4bSCdJTbR8I Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2025 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • July 27 · 54 min

    The AI Revolution: Who Wins, Who Loses & the SaaSpocalypse | The Real Eisman Playbook Ep 70

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 70 of The Real Eisman Playbook, Steve Eisman sits down with Dan Ives and Gil Luria for a wide-ranging debate on the most important question in markets right now: has the AI trade fundamentally changed, and what does that mean for the stocks that dominate most portfolios? They discuss where we stand with AI compared to where we were a year ago, how specific companies like Google & Oracle have faired, and how the political pressure surrounding data centers has factored in. 00:00 - Intro 02:11 - Where We Stand with AI Right Now 07:04 - Counterarguments Against AI 16:51 - Palantir 19:09 - Google 22:50 - Apple 24:52 - Oracle 30:16 - Winners & Losers 44:28 - Data Centers & Politics 48:40 - Outro Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • July 24 · 23 min

    Google's Negative Cash Flow and the AI Capex Reckoning | The Weekly Wrap

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman covers a pivotal week in markets. Google raised its AI capex to $205 billion, posted negative free cash flow, and saw its stock fall 7%, while Tesla was also down 14.5%. Steve also covers results from GE Vernova, Lockheed Martin, Moody's, Blackstone, and ServiceNow. He closes with two mailbags: One on whether banks belong in a portfolio that's already full of AI exposure, and one explaining the mechanics of the funding short. 00:00 - Intro 02:39 - Iran War Updates 03:00 - Moonshot Launches Kimi 03:25 - SpaceX 03:35 - Domino's & the K-Shaped Economy 04:24 - Equifax 06:18 - GM 06:50 - Northrop Grumman & Lockheed Martin 07:51 - GE Vernova 09:12 - Moody's 09:58 - Google 10:54 - Tesla 11:38 - IBM 12:27 - ServiceNow 13:29 - Blackstone 14:38 - The AI Story Has Shifted 15:56 - Intel 16:13 - Mailbag: Bank Stocks 18:06 - Mailbag: Shorting a Stock 19:25 - Outro Watch my Financial Literacy Masterclass video here: https://youtu.be/u8chA7LC8lU Watch my Masterclass on the 2008 Financial Crisis here: https://youtu.be/4bSCdJTbR8I Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2025 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • July 21 · 46 min

    AI Has a Power Problem: Why the U.S. Power Grid Can't Keep Up | The Real Eisman Playbook Ep 69

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 69 of The Real Eisman Playbook, Steve Eisman sits down with Ben Callo, sustainable energy and mobility analyst at Baird, to explore what may be the most important and least understood constraint on the entire AI trade: the U.S. power grid, which needs to add roughly 30 gigawatts of new capacity per year over the next decade. Ben walks through his top picks in the space, including GE Vernova and Tesla, where the autonomous vehicle and energy storage businesses are the real long-term story despite years of Elon's unkept promises. 00:00 - Intro 01:50 - The Grid Problem 06:45 - Data Centers 10:42 - GE Vernova 14:55 - Nuclear Power 18:00 - Electronic Vehicles 24:10 - Tesla, Self-Driving Cars, & SpaceX Going Public 34:50 - Solar Power 39:53 - Back to Electronic Vehicles 46:34 - Outro Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • July 17 · 26 min

    Bank Earnings Just Gave the Market a Much Needed Confidence Boost | The Weekly Wrap

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman breaks down a strong start to the bank earnings season, with JPMorgan, Goldman Sachs, Morgan Stanley, Wells Fargo, and Citigroup all reporting results that were better than feared. Steve also covers IBM's disastrous quarter, PayPal's potential sale, and reports for Netflix, Elevance, UH, and GE Aerospace. He closes with a mailbag regarding his favorite graphic novels. 00:00 - Intro 02:48 - Iran War Updates 03:04 - Circle & Stablecoin 05:55 - PayPal Might Be For Sale 06:44 - IBM's Disastrous Quarter 09:16 - Elevance, UH, GE Aerospace, & Netflix Reported 11:36 - Banks Reported 19:18 - Mailbag: Graphic Novels 22:46 - Outro Watch my Financial Literacy Masterclass video here: https://youtu.be/u8chA7LC8lU Watch my Masterclass on the 2008 Financial Crisis here: https://youtu.be/4bSCdJTbR8I Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2025 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • July 13 · 57 min

    AI Dominates Economy and Markets with Torsten Slok | The Real Eisman Playbook Ep 68

    Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 68 of The Real Eisman Playbook, Steve Eisman sits down with Torsten Slok, Chief Economist at Apollo, to break down just how dependent the U.S. economy has become on AI. Torsten walks through the K-shaped economy in detail, explaining why the top third of American consumers are doing fine while the bottom two-thirds are under severe and growing stress. They also discuss the Fed's impossible position, why Jerome Powell is unlikely to cut rates anytime soon, and what a slowdown in AI spending would mean for an economy that has become singularly dependent on it. 00:00 - Intro 01:30 - The Health & State of the US Economy 05:45 - The Fed Are Not Going to Cut Rates 07:56 - The AI Story is Dramatically Changing 14:00 - The K-Shaped Economy 22:02 - Private Credit 30:04 - Employment, AI, & Europe 41:25 - The U.S. Deficit 48:33 - China 49:47 - The Biggest Risks in the Market 53:15 - Outro Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • July 10 · 23 min

    Why the Entire Market Is Now a Single Bet on AI | The Weekly Wrap

    On this episode of The Weekly Wrap, Steve Eisman makes the case that diversification in today's market is largely an illusion and that the entire market has effectively become a single bet on AI. Steve also covers the collapse of Circle and Nike's uninspiring quarter. He also closes with two mailbags: one on his personal investment portfolio, and one on book recommendations. Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ 00:00 - Intro 02:36 - Iran War News 02:54 - Circle & Stablecoins 03:45 - Nike Stock Stays Flat 04:29 - GDP Growth & Dependence on AI 06:22 - Diversification No Longer Exists 07:27 - AI Arguments & Measuring the Risks 14:15 - Mailbag: My Investment Portfolio 15:34 - Mailbag: Book Recommendations 19:33 - Outro Watch my Financial Literacy Masterclass video here: https://youtu.be/u8chA7LC8lU Watch my Masterclass on the 2008 Financial Crisis here: https://youtu.be/4bSCdJTbR8I Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2025 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • July 6 · 45 min

    Who Wins the Midterms & What It Means for Markets with Dan Clifton | The Real Eisman Playbook Ep 67

    On episode 67 of The Real Eisman Playbook, Steve Eisman brings back recurring guest Dan Clifton, political analyst at Strategas, to break down the 2026 midterm landscape. Dan also shares his take on the 2028 presidential race, explains why Kevin Warsh's real agenda is shrinking the Fed's $6 trillion balance sheet rather than cutting rates, and makes the case that tariffs have quietly flipped from a market headwind to a tailwind. 00:00 - Intro 01:40 - The Midterm Elections 12:54 - Where Are We with Tariffs? 15:27 - What's Left with Trump's Agenda? 17:47 - The Fed 23:34 - Bank Regulation 24:59 - Looking Ahead to 2028 36:22 - The Iran War 39:23 - Outro Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation=1 Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

  • June 29 · 49 min

    The Market's Biggest Warning Signs Right Now with Todd Sohn | The Real Eisman Playbook Ep 66

    On episode 66 of The Real Eisman Playbook, Steve Eisman sits down with Todd Sohn, Chief Chartist at Strategas, for a deep dive into what the charts and ETF flows are revealing about this market. Todd walks through individual stock charts for Nvidia, Meta, Microsoft, Amazon, Google, GE Vernova, and more. He explains why Google still looks good while Meta and Microsoft are flashing warning signs. You can view the charts here: https://drive.google.com/drive/folders/1G0-aDYImuf8lBqicP12gLKSw3Ishz4JG?usp=drive_link 00:00 - Intro 01:00 - The Philosophy of Charts 01:42 - Semiconductors 04:12 - Software 05:34 - GE Vernova 06:31 - Amazon 07:15 - Meta 08:56 - Oracle 09:38 - Microsoft 10:35 - Google 11:20 - The Book & ETFs 27:33 - Chasing Single Themes Can Be Detrimental 30:24 - Industry Groups with an Over 15% Weight 31:47 - Broader Flows Climbing, But Not Extreme 32:38 - Cyclical vs Defensive Flows 33:20 - Contrast Between Financials & Industrials 33:50 - Healthcare 35:15 - Small-Caps 35:51 - Energy 36:30 - Consumer Discretionary 37:30 - Staples 39:32 - REITs 40:18 - Quality is Wasting Space 41:00 - Interest Rates, Gold, & Bitcoin 43:42 - Outro Subscribe 👉🏻https://www.youtube.com/@RealEismanPlaybook?sub_confirmation Connect with Steve Eisman and access all things The Eisman Playbook: 🌐 https://linktr.ee/realeismanplaybook → Follow on socials, watch episodes, and get the latest updates — all in one place. 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. Copyright ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

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