The Real Eisman Playbook

On episode 63 of The Real Eisman Playbook, Steve Eisman sits down with Stacy Rasgon, semiconductor analyst at Bernstein, to break down the AI semiconductor boom that has sent the sector up 60% year to date. They explain who is winning, who is playing catch-up, and they close with the most important question in markets right now: what would actually have to happen to derail this boom? 00:00 - Intro 02:17 - What's Happened in the Last 7 Months? 06:02 - Nvidia & GPU vs CPU 19:46 - Michael Burry's Argument 22:29 - AMD 27:50 - Intel 32:38 - Broadcom & Qualcomm 39:06 - ASML, Lam, KLA, & Other Companies 42:27 - What Could Derail the Boom? 50:24 - Power 52:27 - 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

On episode 62 of The Real Eisman Playbook, Steve Eisman opens with a sweeping overview of the entire AI landscape before sitting down with Gary Marcus to discuss the issues surrounding the industry. Gary breaks down why LLMs hallucinate, why scaling is no longer driving progress the way it used to, and why the economics of token pricing could be the thing that finally breaks the AI story. 00:00 - Intro & The Story of AI 09:25 - Start of Gary Marcus Interview 10:15 - The Limitations of LLMs 16:24 - What is AI Good For Right Now? 22:20 - Where AI Struggles & Why LLMs Hallucinate 26:50 - The Costs of Tokens 39:38 - The $2 Trillion Spending 43:19 - Will AI Break? 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

On episode 61 of The Real Eisman Playbook, Steve Eisman sits down with Peter Arment, aerospace and defense analyst at Baird, to break down how Silicon Valley's $66 billion bet on defense tech is disrupting the industry and why defense stocks are selling off during an active war. Peter makes the case for breaking up Lockheed Martin, explains why cheap drones are beginning to challenge the F-35, and walks through the nuclear renaissance powering overlooked names like Curtis Wright and BWX Technologies. 0:00:00 - Intro 0:01:19 - What's Happening in Defense? 0:08:44 - Real Eisman Playbook Premium Preview 0:09:49 - The Impact of the War in Iran 0:12:35 - Is the US Low on Munitions? 0:16:08 - The Pentagon's Perspective 0:18:00 - The Primes 0:22:55 - Lockheed Martin, Drones, & F-35s 0:31:50 - Which Prime Has the Best Portfolio 0:33:00 - Non-Prime Companies 0:41:16 - Why Russia Still Can't Beat Ukraine 0:44:40 - Boeing 0:52:20 - Curtis Wright & BWX Technologies 1:01:44 - 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 ©2025 Steve Eisman Learn more about your ad choices. Visit megaphone.fm/adchoices

On episode 60 of The Real Eisman Playbook, Steve Eisman sits down with Bob Brackett, the energy and mining analyst at Bernstein, to break down the energy landscape and discuss why energy stocks are down even as oil sits near $100 a barrel in the wake of the Iran war. Bob also explains where the opportunities are, which companies are best positioned, and why the forward curve is confusing even the most seasoned investors. They also explore the AI connection to energy demand, the UAE leaving OPEC, and much more. 0:00:00 - Intro 0:00:55 - Bob's Background 0:01:50 - What's Happening in This Sector? 0:07:15 - Exxon, Oil Prices, & The Forward Curve 0:18:52 - UAE Dropping Out of OPEC 0:22:04 - Natural Gas 0:35:12 - Miners & Copper 0:40:32 - Lithium 0:46:10 - Analyzing the Main Groups & Companies of the Sector 0:55:14 - Drillers 1:02:00 - Which Companies Does Bob Like? 1:06:20 - EOG 1:08:40 - Back to Miners 1:10:15 - L&G 1:14:32 - Outro 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

On episode 59 of The Real Eisman Playbook, Steve Eisman sits down with Kelsey Zhu of Autonomous to discuss the collapse of FICO's decades-long monopoly on credit scores and what it means for homebuyers, lenders, and investors. Kelsey breaks down how FICO raised its mortgage score pricing from 60 cents to $10 per pull and why that aggressive pricing opened the door for Vantage. They also explore the broader financial data sector and discuss how AI is reshaping the competitive landscape for every company in the group. 00:00 - The Real Eisman Playbook Premium 02:20 - Intro 04:35 - An Overview of the FICO Situation 13:40 - Destroying a Monopoly 20:05 - FICO vs Vantage Pricing 27:42 - The Credit Bureaus 30:39 - Kelsey's Call with a Private Mortgage Lender 35:09 - Outside the Mortgage Industry 37:00 - Going Back to the Price Increase 38:06 - Monopolies vs Duopolies 40:11 - Good & Bad Business Models 45:15 - Businesses of the Credit Bureaus 49:23 - How AI Factors In 51:20 - Verisk's Business Model 54:10 - MSCI 59:03 - FactSet 1:03:25 - Summarizing the FICO Situation & Lessons Learned 1:03:32 - Outro Visit https://realeismanplaybook.com/ to sign up for our mailing list. 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

On this episode of The Weekly Wrap, Steve Eisman breaks down the latest with the war in Iran and how it continues to mask deeper economic risks. He also mentions even more bad news in the world of private credit and suggests we're hitting the beginning of a credit cycle. The episode also features an in-depth interview with Meritage Homes CEO Phillippe Lord, in which the two of them discuss the real reasons housing affordability continues to worsen in the U.S. 00:00 - Intro 01:21 - Iran War Updates 03:07 - More Bad News For Private Credit 05:00 - Introducing Our Interview with Meritage Homes CEO Phillippe Lord 07:28 - The State of the Housing Market 14:37 - Meritage Homes 20:10 - Housing Affordability 31:05 - How Meritage Differs From Bigger Companies 43:28 - Hopes For the Future of Meritage 45:22 - Outro Watch my interview with Mark Cuban here: https://youtu.be/gfH0jyPwSDQ Watch my interview with Michael Ha here: https://youtu.be/jKjg_Ah8DyI 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. On this episode of The Weekly Wrap, Steve Eisman breaks down the latest with the war in Iran and how it continues to mask deeper economic risks. He also mentions even more bad news in the world of private credit and suggests we're hitting the beginning of a credit cycle. The episode also features an in-depth interview with Meritage Homes CEO Phillippe Lord, in which the two of them discuss the real reasons housing affordability continues to worsen in the U.S. 00:00 - Intro 01:21 - Iran War Updates 03:07 - More Bad News For Private Credit 05:00 - Introducing Our Interview with Meritage Homes CEO Phillippe Lord 07:28 - The State of the Housing Market 14:37 - Meritage Homes 20:10 - Housing Affordability 31:05 - How Meritage Differs From Bigger Companies 43:28 - Hopes For the Future of Meritage 45:22 - Outro Watch my interview with Mark Cuban here: https://youtu.be/gfH0jyPwSDQ Watch my interview with Michael Ha here: https://youtu.be/jKjg_Ah8DyI 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