The Eisman Playbook (Don't Touch My Radio)

Steve Eisman, joined by former partners Danny Moses, Porter Collins, and Vincent Daniel, delve into recent market upheavals caused by President Trump's tariff announcements. They analyze the implications of these policies, the reaction of global markets, and the potential for a bear market. They also reminisce about their time depicted in The Big Short, discussing stories and strategies from the 2008 financial crisis. The episode offers a rich mix of market analysis, economic theory, and personal anecdotes. Watch this episode on YouTube: https://youtu.be/3VqQ8glQSFM 00:00 Introduction to the Episode 02:01 Market Turmoil and Panic 02:39 Impact of Tariffs and Trade Wars 06:02 Bear Market Strategies and Predictions 18:21 Historical Market Crashes and Lessons 22:07 Government Response and Market Reactions 22:43 Trump's Trade Policies and Economic Impact 28:14 Debating the Future of the Market 30:49 Negotiation and Phone Calls 31:17 Understanding Credit Spreads 32:13 Financial Crisis and Market Dynamics 36:59 Reminiscing Early Careers 46:18 The Big Short and Subprime Crisis 51:14 Memorable Meetings and Interactions 59:06 Conclusion and Farewell Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: https://www.tiktok.com/@eismanplaybook – Get bite-sized investing wisdom and clips from the show Instagram: https://www.instagram.com/eismanplaybook– Behind the scenes, quotes, and episode highlights Website: https://www.eismanplaybook.com – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: Collier Landry Producer & Publicity: Steven Cohen, Next Horizon Media Post-Production Services by: Don’t Touch My Radio 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. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of The Eisman Playbook, host Steve Eisman talks with Michael Nathanson from Moffett Nathanson about the shifts in the media landscape sparked by Netflix. The discussion delves into how Netflix's international expansion upended traditional media models and how cable networks responded. They also explore the financial impact on companies like Disney and Warner Brothers, highlighting Netflix's current dominance in the streaming wars. Additional conversations cover the challenges for Google and Meta in integrating AI, the state of the cable industry, and media company consolidation. The episode concludes with recommendations on new and old streaming shows to watch. Watch this episode on YouTube: https://youtu.be/BPHQ8GpRAts Key Episode Moments: 00:00 Introduction to the Eisman Playbook 00:04 The Evolution of Media Markets 00:53 Welcome to the Podcast 01:45 Market Reactions and Guest Introduction 03:10 The Rise of Netflix 04:51 The Golden Age of Cable and Film 06:55 The Impact of Competition and Pricing 10:53 The Streaming Revolution 13:43 The Decline of Traditional Media 21:30 The Rise of Streaming Giants 33:45 The Global Scale of Netflix 39:56 Market Challenges for Warner Brothers and Paramount 40:55 Apple's Content Strategy and Challenges 43:54 Disney's Market Struggles and Streaming Strategy 47:26 Disney's Handling of Star Wars and Marvel 54:07 AI and Its Impact on Google and Facebook 01:07:13 Cable Companies in the Modern Media Landscape 01:12:14 TV Show Recommendations 01:15:50 Conclusion and Closing Remarks Michael's company website: https://www.moffettnathanson.com/ Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: https://www.tiktok.com/@eismanplaybook – Get bite-sized investing wisdom and clips from the show Instagram: https://www.instagram.com/eismanplaybook– Behind the scenes, quotes, and episode highlights Website: https://www.eismanplaybook.com – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: Collier Landry Producer & Publicity: Steven Cohen, Next Horizon Media Post-Production Services by Don’t Touch My Radio 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. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of the Eisman Playbook, Steve Eisman delivers a masterclass on the 2008 financial crisis, breaking down its causes, including excessive leverage in large financial institutions, the collapse of subprime mortgages, systemic ownership of the failed asset class, and the role of derivatives. Steve discusses how banks’ leverage works, the evolution of subprime lending, and Wall Street's role and response during the crisis. He also touches upon the regulatory response post-crisis, the Dodd-Frank Act, the evolution of bank regulations, and the transformation in the financial landscape over the past 17 years. Steve concludes with reflections on current market conditions, trade tariffs under the Trump administration, and forecasts on the future of banking and regulation. 00:00 Welcome to the Eisman Playbook 00:15 Introduction to the Financial Crisis 01:42 Understanding Bank Leverage 10:14 The Role of Risk-Weighted Assets 16:49 Subprime Mortgages Explained 20:32 The Rise and Fall of Subprime Mortgages 26:45 The Data Behind the Crisis 29:32 The Onset of the Financial Crisis 31:29 Wall Street's Role and Misjudgments 34:03 The Impact of Derivatives 38:16 Personal Involvement and Market Collapse 39:19 Government Interventions and Bailouts 48:50 Post-Crisis Regulations and Reforms 55:12 Current Events and Future Predictions Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: https://www.tiktok.com/@eismanplaybook – Get bite-sized investing wisdom and clips from the show Instagram: https://www.instagram.com/eismanplaybook– Behind the scenes, quotes, and episode highlights Website: https://www.eismanplaybook.com – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: Collier Landry Producer & Publicity: Steven Cohen, Next Horizon Media Post-Production Services by: Don’t Touch My Radio 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. Learn more about your ad choices. Visit megaphone.fm/adchoices

Trump Announces Sweeping Tariffs, Calling It a "Declaration of Economic Independence" Join Big Short Investor Steve Eisman and special guest Dan Clifton from Strategas as they dissect the latest market turmoil caused by President Trump's unexpected tariff announcement. Recorded on April 3, 2025, this episode dives deep into the intricate implications of the new tariff plan, covering its impact on the global economy, US policy, and the stock market. With his vast experience in policy research, Dan Clifton provides a detailed analysis of the market's reaction, potential future scenarios, and the strategic shifts in US foreign policy. This comprehensive discussion also explores the roles of domestic fiscal policy, Fed actions, and the evolving political landscape. Don't miss this detailed episode that breaks down complex economic policies into actionable insights. Watch this episode on YouTube: https://youtu.be/9NbEyF5Q8XM Episode Highlights: 00:00 Introduction to the Eisman Playbook 00:06 Market Reactions to Trump's Tariff Plan 00:31 Guest Introduction: Dan Clifton from Strategas 00:38 Understanding Boutique Research Firms 01:17 Dan Clifton's Background and Role 03:00 Trump's Unconventional Political Moves 03:20 Impact of NAFTA and Trump's Trade Policies 04:31 Details of Trump's New Tariff Announcements 05:47 Global Trade Implications and Country-Specific Tariffs 07:05 Strategas' Analysis of Tariff Impacts 11:18 Potential Retaliation and Global Trade Dynamics 13:48 Economic and Political Repercussions 17:47 Tax Cuts and Revenue from Tariffs 22:19 Federal Reserve's Role and Monetary Policy 26:00 Personality and Process in Trade Policy 27:27 Market Reactions and Congressional Responses 29:32 Budget Reconciliation and Economic Shifts 33:59 Democratic Party Dynamics Post-Trump 39:53 US-Europe Relations and Defense Spending 46:33 Future Economic and Political Moves Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: https://www.tiktok.com/@eismanplaybook – Get bite-sized investing wisdom and clips from the show Instagram: https://www.instagram.com/eismanplaybook– Behind the scenes, quotes, and episode highlights Website: https://www.eismanplaybook.com – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Producer: Collier Landry Producer & Publicity: Steven Cohen, Next Horizon Media Post-Production Services by: Don’t Touch My Radio 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. Learn more about your ad choices. Visit megaphone.fm/adchoices

I'm Steve Eisman and welcome to my podcast The Eisman Playbook. In my 35 years of experience of investing in markets, I've seen many ups and downs. You might know me because I was depicted in the book The Big Short, by Michael Lewis and portrayed by Steve Carell in the movie of the same name. In this podcast, we are going to explore and analyze market trends. Companies and sub-sectors through various guests in and around the financial world. My goal here is simple to educate, so come and join me as I share with you the Eisman playbook. Social Media and Website Links: https://www.steveeisman.com Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: https://www.tiktok.com/@eismanplaybook – Get bite-sized investing wisdom and clips from the show Instagram: https://www.instagram.com/eismanplaybook– Behind the scenes, quotes, and episode highlights Website: https://www.eismanplaybook.com – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: Collier Landry Producer & Publicity: Steven Cohen, Next Horizon Media Production Company: Don’t Touch My Radio 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. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of the Eisman Playbook, host Steve Eisman engages in a thought-provoking conversation with Wolfgang Münchau, co-founder of Euro Intelligence and an expert on European economic affairs. The discussion centers on Germany’s economic decline, the historical and cultural factors that contributed to it, and its broader implications for Europe. They explore topics like the shift from traditional manufacturing to digital technologies, the interconnectedness of European economies, and the potential impacts of tariffs and trade policies under President Trump. Münchau also highlights the structural weaknesses within the EU, including the complexity of its regulatory environment and the political challenges in unifying diverse economic policies. Key Episode Moments: 00:00 Introduction to Digital Service Surcharges 01:07 Welcome to the Eisman Playbook 02:13 Exploring the End of Paradigms 03:00 The German Economic Miracle 03:12 Meet Wolfgang Münchau 03:58 The State of the European Economy 06:36 Germany's Neo-Mercantilism Explained 10:03 Challenges Facing the German Economy 26:29 The Impact of Global Events on Germany 36:23 Germany's Economic Struggles 36:57 The Role of the Financial Sector 39:13 Germany's Energy Policy and Nuclear Power 42:08 Cultural Shifts in Germany 43:36 Europe's Economic Challenges 49:58 The Impact of President Trump's Tariffs 58:38 Future Trade Deals and Global Tariff Zones 01:08:12 Conclusion and Final Thoughts Watch this episode on YouTube: https://youtu.be/DJPrmT847Vo Buy Wolfgang's book on Amazon: https://amzn.to/4jqmV4e Follow Steve Eisman and The Eisman Playbook on social media: X (Twitter): https://x.com/EismanPlaybook – Stay up to date with Steve’s latest insights YouTube: https://www.youtube.com/@TheEismanPlaybook– Subscribe for exclusive video episodes and expert breakdowns TikTok: https://www.tiktok.com/@eismanplaybook – Get bite-sized investing wisdom and clips from the show Instagram: https://www.instagram.com/eismanplaybook– Behind the scenes, quotes, and episode highlights Website: https://www.eismanplaybook.com – Full episodes, articles, and more 👉 Don’t forget to follow, subscribe, and share the show with someone who needs to hear it. Episode Production Credits Producer: Collier Landry Producer & Publicity: Steven Cohen, Next Horizon Media Post-Production Services by Don’t Touch My Radio 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. Learn more about your ad choices. Visit megaphone.fm/adchoices