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 influential minds.
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Google's Negative Cash Flow and the AI Capex Reckoning | The Weekly Wrap
<p>Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/</p> <p><br></p> <p>On this episode of The Weekly Wrap, Steve Eisman covers a pivotal week in markets. Google raised its AI capex to $205 billion, posted negative free cash flow, and saw its stock fall 7%, while Tesla was also down 14.5%. Steve also covers results from GE Vernova, Lockheed Martin, Moody's, Blackstone, and ServiceNow. He closes with two mailbags: One on whether banks belong in a portfolio that's already full of AI exposure, and one explaining the mechanics of the funding short. </p> <p><br><...
AI Has a Power Problem: Why the U.S. Power Grid Can't Keep Up | The Real Eisman Playbook Ep 69
<p>Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ </p> <p><br></p> <p>On episode 69 of The Real Eisman Playbook, Steve Eisman sits down with Ben Callo, sustainable energy and mobility analyst at Baird, to explore what may be the most important and least understood constraint on the entire AI trade: the U.S. power grid, which needs to add roughly 30 gigawatts of new capacity per year over the next decade. Ben walks through his top picks in the space, including GE Vernova and Tesla, where the autonomous vehicle and energy storage businesses are...
Bank Earnings Just Gave the Market a Much Needed Confidence Boost | The Weekly Wrap
<p>Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/</p> <p><br></p> <p>On this episode of The Weekly Wrap, Steve Eisman breaks down a strong start to the bank earnings season, with JPMorgan, Goldman Sachs, Morgan Stanley, Wells Fargo, and Citigroup all reporting results that were better than feared. Steve also covers IBM's disastrous quarter, PayPal's potential sale, and reports for Netflix, Elevance, UH, and GE Aerospace. He closes with a mailbag regarding his favorite graphic novels. </p> <p><br></p> <p>00:00 - Intro</p> <p>02:48 - Iran War Updates</p> <p>03:04...
AI Dominates Economy and Markets with Torsten Slok | The Real Eisman Playbook Ep 68
<p>Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ </p> <p><br></p> <p>On episode 68 of The Real Eisman Playbook, Steve Eisman sits down with Torsten Slok, Chief Economist at Apollo, to break down just how dependent the U.S. economy has become on AI. Torsten walks through the K-shaped economy in detail, explaining why the top third of American consumers are doing fine while the bottom two-thirds are under severe and growing stress. They also discuss the Fed's impossible position, why Jerome Powell is unlikely to cut rates anytime soon, and what a...
Why the Entire Market Is Now a Single Bet on AI | The Weekly Wrap
<p>On this episode of The Weekly Wrap, Steve Eisman makes the case that diversification in today's market is largely an illusion and that the entire market has effectively become a single bet on AI. Steve also covers the collapse of Circle and Nike's uninspiring quarter. He also closes with two mailbags: one on his personal investment portfolio, and one on book recommendations. </p> <p><br></p> <p>Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ </p> <p><br></p> <p>00:00 - Intro</p> <p>02:36 - Iran War News</p> <p>02:54 - Circle & Stablecoins</p> <...
Who Wins the Midterms & What It Means for Markets with Dan Clifton | The Real Eisman Playbook Ep 67
<p>On episode 67 of The Real Eisman Playbook, Steve Eisman brings back recurring guest Dan Clifton, political analyst at Strategas, to break down the 2026 midterm landscape. Dan also shares his take on the 2028 presidential race, explains why Kevin Warsh's real agenda is shrinking the Fed's $6 trillion balance sheet rather than cutting rates, and makes the case that tariffs have quietly flipped from a market headwind to a tailwind. </p> <p><br></p> <p>00:00 - Intro </p> <p>01:40 - The Midterm Elections </p> <p>12:54 - Where Are We with Tariffs? </p> <p>15:27 - What's Left with Trump's Agenda? </p> <p>17:47...
The Market's Biggest Warning Signs Right Now with Todd Sohn | The Real Eisman Playbook Ep 66
<p>On episode 66 of The Real Eisman Playbook, Steve Eisman sits down with Todd Sohn, Chief Chartist at Strategas, for a deep dive into what the charts and ETF flows are revealing about this market. Todd walks through individual stock charts for Nvidia, Meta, Microsoft, Amazon, Google, GE Vernova, and more. He explains why Google still looks good while Meta and Microsoft are flashing warning signs. </p> <p><br></p> <p>You can view the charts here: https://drive.google.com/drive/folders/1G0-aDYImuf8lBqicP12gLKSw3Ishz4JG?usp=drive_link </p> <p><br></p> <p>00:00 - Intro</p> <...
The Q2 2026 Report Card: Who Won, Who Lost, and Why | The Weekly Wrap
<p>On this episode of The Weekly Wrap, Steve Eisman delivers his second quarter market review, breaking down why semiconductors like Micron and Sandisk surged over 200% while software stocks got crushed, and why the hyperscalers are losing investor confidence. Steve also covers SpaceX's wild volatility after its IPO, Micron's jaw-dropping 1,215% earnings growth, and closes with thoughts on Alan Greenspan and a viewer mailbag question </p> <p><br></p> <p>00:00 - Intro</p> <p>03:50 - Iran War Updates</p> <p>04:04 - Accenture's Disastrous Quarter</p> <p>05:13 - Good News For GEV</p> <p>05:46 - Volatility in SpaceX Stock</p> <p>06:39...
The Real State of the American Consumer w/ Three Evercore Analysts | The Real Eisman Playbook Ep 65
<p>On episode 65 of The Real Eisman Playbook, Steve Eisman sits down with three Evercore consumer analysts (Michael Binetti, David Palmer, and Greg Melich) for a sweeping deep dive into the health of the American consumer across restaurants, retail, food companies, and big box stores. They also dig into why Nike is struggling to turn around, why traditional food companies like Campbell's and Kraft Heinz face structural headwinds from the protein and GLP-1 revolution, and why Ralph Lauren may be the most surprising brand success story in retail today. </p> <p><br></p> <p>0:00:00 - Intro</p> <p>0:02:08 - The...
Anthropic Gets Shut Down By the Government and the AI Story Gets More Complicated | The Weekly Wrap
<p>On this episode of The Weekly Wrap, Steve Eisman breaks down the explosive SpaceX IPO, growing concerns around AI economics, and the emerging bull and bear cases for the AI sector. He also examines the Iran situation, private credit stress, and Anthropic's setback with the U.S. government. Plus, Steve answers mailbag questions on inflation, European markets, and the legal debate surrounding addiction-based business models. </p> <p><br></p> <p>00:00 - Intro</p> <p>01:44 - Iran War Updates</p> <p>02:29 - Kevin Warsh's First Fed Meeting</p> <p>02:44 - SpaceX Goes Public</p> <p>03:18 - Homebuilders</p> <p>04:02...
