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The Real Eisman Playbook

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 infl...

Last published 2 November 2026 144 posts collected by Sputnik

Said on The Real Eisman Playbook

“During the first half of this year, I thought that Anthropic and OpenAI were benefiting a lot from token maxing. That was where enterprises told their employees to use AI and to hell with the cost. But that ended this summer when costs got out of control and companies now had the option to switch to cheaper open weight models. So I assumed that once token maxing ended, growth would slow…” — Steve Eisman, The Real Eisman Playbook
Steve Eisman · 30 Oct 2026 Listen →
“This is a big problem for us because the more debt we issue, the more interest rate-sensitive investors we have to attract into the market to buy. So what happens is you get an accelerationist effect on the rise in interest rates, because the profile of our investors is getting worse and worse as the deficit gets worse.” — Benn Steil, The Real Eisman Playbook
Benn Steil · 26 Oct 2026 Listen →
“All I know is that you guys have been making this argument for 40 years. Because I remember Pete Peterson in the 90s making literally every single sentence that Ray Dalio utters now… And when you make an argument for 40 years and you've been wrong for 40 years, there's got to be a reason why you were wrong for 40 years.” — Steve Eisman, The Real Eisman Playbook
Steve Eisman · 26 Oct 2026 Listen →
“Sam's roadmap has got to be, number one, have no regulation. … His top choice is no regulation. His second choice is very weak regulation that doesn't impair him. And his third choice is regulation that cuts the ladder so no one else can compete with him.” — Gary Marcus, The Real Eisman Playbook
Gary Marcus · 12 Oct 2026 Listen →
“Serious governments like the U.S. government tend not to intervene in their own debt market. That's the sort of thing you find more often in struggling emerging markets.” — Krishna Guha, The Real Eisman Playbook
Krishna Guha · 5 Oct 2026 Listen →
“The SaaS model gives private equity comfort because it is easily modelable. Multiply the average price charged customers by the average number of customers, and you've modeled revenue. Easy peasy. Now, make assumptions about the growth in customers and how much you can increase prices, and you can see a glorious future. Then lever it up with a nice amount of debt, and you are in business.” — Steve Eisman, The Real Eisman Playbook
Steve Eisman · 2 Oct 2026 Listen →
“After the GFC, many institutions realized that if they invested in private equity, the volatility of their assets would be reduced. I call this a sleight of hand because the volatility was still there. They were just not provided a daily price.” — Steve Eisman, The Real Eisman Playbook
Steve Eisman · 2 Oct 2026 Listen →
“What I find disturbing is some of the off-balance-sheet financing using special purpose vehicles that I thought had gone the way of the dodo bird after the Enron and post-GFC debacles. I was wrong. It's still happening, and in size, and boy, do I feel foolish.” — Steve Eisman, The Real Eisman Playbook
Steve Eisman · 25 Sep 2026 Listen →
“NVIDIA's revenue in the quarter that was just recently reported was up over 100%. But if you go in the queue, it says that 70% of accounts receivable is from five accounts. The largest company on planet Earth, basically 70% of its revenue comes from five customers — that's very frightening.” — Steve Eisman, The Real Eisman Playbook
Steve Eisman · 21 Sep 2026 Listen →
“AI won't cause extinction, but these two CEOs are creating massive damage.” — Steve Eisman, The Real Eisman Playbook
Steve Eisman · 18 Sep 2026 Listen →
“There are no pricing moats in this business.” — Steve Eisman, The Real Eisman Playbook
Steve Eisman · 18 Sep 2026 Listen →
“I predicted the end of the world once, and believe me, it was no fun. I am in no rush to predict to the end of the world again unless I am really convinced that it's going to happen.” — Steve Eisman, The Real Eisman Playbook
Steve Eisman · 4 Sep 2026 Listen →

Hosts

The Real Eisman Playbook is hosted by Steve Eisman .

Recent Episodes

  1. 2 Nov 2026

    Why Young Americans Feel Locked Out with the Lemonade Stand Podcast

    With Aidan McCaig and Brandon Ewink

  2. 30 Oct 2026

    Anthropic’s Growth is Slowing: Is AI Capex Next? | The Weekly Wrap

  3. 26 Oct 2026

    Inflation, The Deficit & Why the Dollar Stays King with Benn Steil | The Real Eisman Playbook Ep 81

    With Benn Steil

  4. 23 Oct 2026

    AI Narrative Switched, Debt Yields Spike | The Weekly Wrap

  5. 19 Oct 2026

    Big Short Reunion w/ Danny Moses: Rising Rates, AI & Private Equity | The Real Eisman Playbook Ep 80

    With Danny Moses

  6. 16 Oct 2026

    Market Cracks Under AI Debt Burden | The Weekly Wrap

  7. 12 Oct 2026

    Gary Marcus on AI Doomsday Fears, Hacking, & the Fight for Control | The Real Eisman Playbook Ep 79

    With Gary Marcus

  8. 9 Oct 2026

    Q3 2026 Market Recap: Energy Up, Utilities Crushed, and Software Flipped | The Weekly Wrap

  9. 5 Oct 2026

    5% Rates, Bessent's Failed Gamble & What Comes Next w/ Krishna Guha | The Real Eisman Playbook Ep 78

    With Krishna Guha

  10. 2 Oct 2026

    Why Private Equity's Software Bet Is Going to Zero | The Weekly Wrap

    With Edwin Dorsey

  11. 28 Sep 2026

    What the AI Boom Looks Like From Inside Cisco with Sam Badri | The Real Eisman Playbook Ep 77

    With Sam Badri

  12. 25 Sep 2026

    The Enron-Era Tricks Are Back in AI: How These Companies Are Hiding Their Debt | The Weekly Wrap

    With Edwin Dorsey

Guests

Gary Marcus (4 episodes), Chris Verrone (4 episodes), Dan Ives (3 episodes), Todd Sohn (3 episodes), Lakshmi Ganapathi (3 episodes), Glenn Schorr (3 episodes), Michael Ha (2 episodes), George Noble (2 episodes), Stacy Rasgon (2 episodes), Steve Liesman (2 episodes), Dan Clifton (2 episodes), Edwin Dorsey (2 episodes), and 56 more.