The Real Eisman Playbook

Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman discusses CoreWeave’s climbing debt, fading confidence in AI data center economics, and whether the business model is unworkable. Steve also walks through a packed earnings week, featuring Meta’s strong 26% revenue growth, Tesla’s stunning 0% revenue growth, SpaceX’s capex-heavy results, and why Netflix is going ex-growth as YouTube conquers the newer forms of media. He also takes a mailbag question regarding the housing market. 00:00 - Intro 01:55 - French Sovereign Bonds Are In Trouble 03:04 - The AI Narrative Has Changed 05:32 - A Whole Bunch of Earnings 17:18 - Mailbag: Should You Buy a Home? 19:29 - 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 Real 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

Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman examines the growing risks and opportunities surrounding AI, from rising debt at AI data center companies to concerns about the future of the AI boom. He also breaks down the latest bank earnings and the impact of agentic AI on financial institutions. 00:00 - Intro 02:21 - War in Iran Updates 02:50 - The Telepocalypse 04:47 - CoreWeave & Something of a Tech Correction 06:48 - Bad News in France 08:09 - Impact of Agentic AI on Financial Institutions 12:10 - Earnings Season Began with the Banks 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

Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman delivers a comprehensive Q3 2026 market breakdown. He discusses why energy was the best performing sector, why utilities got crushed, and why the SAASpocalypse narrative flipped. Steve also acknowledges that over 65% of the S&P 500 is now a single bet on AI and closes with updates on FICO and Glass House Brands. 00:00 - Intro 01:53 - War in Iran, Interest Rates, & Oil Prices 02:38 - Snapshot of the Economy & Key Weaknesses Emerging 04:27 - An Analysis of the Third Quarter 18:06 - Why I Covered FICO & Sold Glass House Brands 19:02 - Mailbag: Diversifying Away From AI 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

Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman covers a dramatic week for FICO, in which its decades-long mortgage monopoly effectively broke. Steve then delivers a deep dive into private equity's overexposure to software buyouts, why the SAASpocalypse has cut valuations by 50% or more, and why the refinancing wall coming in 2027 will likely wipe out equity in many of these deals. He closes with three mailbag questions covering oil-driven inflation, AI regulation, and how the Moody's securitization database gave him the confidence to short subprime paper back in 2006. 00:00 - Intro 01:59 - Iran War Updates 02:28 - More Negative News For FICO 04:20 - Analysis of Private Equity & Private Credit's Exposure to Software 18:14 - Mailbag: Raising Rates 19:48 - Mailbag: AI Regulation 20:43 - Mailbag: MBS 22:51 - 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 ©2026 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman discusses why the off-balance sheet financing techniques that caused Enron's collapse and amplified the GFC are back in full force in the AI world. He also covers the Ten Year yield breaching 5.1%, Paramount being cleared for takeoff with WB, troubling news from Oracle & Blue Owl, Meta's Muse agentic AI agent, and much more. 00:00 - Intro 02:42 - War in Iran, Oil Prices, & Interest Rates 03:43 - Troubling News From Oracle & Blue Owl 04:29 - Paramount Cleared For Take Off 05:40 - Softbank Junk Borrowing 06:23 - AI Circular Financing 20:00 - Meta's Muse 22:46 - Mailbag: Shorting Against the Box 24:30 - 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

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

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