Steve Eisman

4 quotes

Born Jul 8, 1962 · United States Of America · Male

Steven Eisman (; born July 8, 1962) is an American businessman and investor known for having shorted collateralized debt obligations. 2Early life and education Eisman grew up in New York City, where he attended Yeshiva schools. He attended the University of Pennsylvania, graduating magna cum laude in 1984. He then graduated from Harvard Law School with honors. 2FrontPoint Partners Eisman rose to fame betting against collateralized debt obligations at Greenwich, Connecticut-based FrontPoint Partners LLC, a unit of Morgan Stanley. By 2010, he managed more than US$1 billion for FrontPoint, and gained prominence after being profiled by Michael Lewis in his book The Big Short: Inside the Doomsday Machine. In the movie adaptation of Lewis' book, The Big Short, Eisman's name was changed to Mark Baum, and was portrayed by Oscar-nominated actor Steve Carell. He left FrontPoint Partners in 2011 amid investor withdrawals following allegations that Joseph F. "Chip" Skowron, a co-manager of the firm’s health-care portfolio, traded on insider information. 2Emrys Partners In 2012, Eisman founded Emrys Partners with $23 million in seed capital. The fund performed poorly in 2012, returning 3.6% and underperforming the marke

All Finance (4)Wall Street (4)Financial Crisis (3)Big Short (1)Business (1)hedge funds (1)Lending (1)leverage (1)

From “Steve Eisman”

“What they didn't really notice is that as they kept making money every single year, the leverage of their various institutions was increasing every single year. They thought they were making more money because of them. But really what was happening is they were making more money because their…”

Tagged: Wall Street, Finance, Financial Crisis, leverage, Business

“We'll make loans to people we didn't make loans to before. Rather than get incomes up they let people lend to themselves.”

Tagged: Financial Crisis, Lending, Wall Street, Finance

“Let me explain that because its not intuitively obvious how the two are connected. My thesis is that one of the underline causes of the financial crisis was dead income distribution.”

Tagged: Finance, Wall Street, Financial Crisis

“No, I didn't expect that it would happen that quickly. A lot of that is the fact that the government back stopped the system.”

Tagged: Finance, Wall Street, Big Short, hedge funds

Steve Eisman

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