Steve Eisman, born on July 8, 1962, is a prominent American businessman and investor, best known for his successful bet against subprime mortgages during the financial crisis of 2007-2008. His foresight and investment strategies have made him a significant figure in the finance world, particularly after being featured in Michael Lewis’s bestselling book, “The Big Short,” which was later adapted into an Oscar-winning film. As of 2024, Eisman’s net worth is estimated to be around $1.5 billion, a testament to his successful career in finance.
Eisman grew up in New York City, where he was educated in Yeshiva schools. He graduated magna cum laude from the University of Pennsylvania in 1984 and later earned his Juris Doctor from Harvard Law School. Despite his prestigious education, Eisman found himself dissatisfied with a career in law. His parents, both finance professionals, helped him secure a position as an equity analyst at Oppenheimer, which marked the beginning of his journey in the investment world.
His rise to fame came during his tenure at FrontPoint Partners, a hedge fund where he managed over $1 billion. Eisman’s reputation skyrocketed as he successfully shorted collateralized debt obligations (CDOs), profiting immensely from the collapse of the housing market. His insights and strategies were pivotal during this tumultuous period, and his story was immortalized in “The Big Short,” where he was portrayed by actor Steve Carell.
Career Highlights
After leaving FrontPoint Partners in 2011, Eisman founded Emrys Partners, although the fund struggled to perform and was eventually shut down in 2014. Following this, he joined Neuberger Berman as a managing director and portfolio manager, where he continues to manage investments for wealthy clients. His focus has shifted in recent years towards sectors he believes will yield significant returns, particularly in infrastructure and green initiatives.
Investment Philosophy
Eisman has recently expressed a strong interest in investing in U.S. infrastructure, industrial onshoring, and green initiatives. He has been vocal about the need for improvements in American infrastructure, citing the stark contrast between U.S. airports and those in countries like Hong Kong. He believes that the current state of U.S. infrastructure presents a unique investment opportunity, especially as the government pushes for modernization and sustainability.
During a recent episode of Bloomberg’s “Odd Lots” podcast, Eisman highlighted the impressive performance of construction engineering companies, such as Quanta Services, which has seen a staggering 450% increase in stock value since 2020. He emphasized that infrastructure projects often take years to complete, making them a stable investment choice compared to the volatile tech sector.
Personal Life
Steve Eisman has been married to Valerie Feigen since 1989. Valerie, who worked for J.P. Morgan, was portrayed in “The Big Short” under the name Cynthia by actress Marisa Tomei. The couple has faced personal tragedies, including the loss of their first-born son, Max, which has profoundly impacted Eisman’s life and perspective.
Current Focus and Future Outlook
As of 2024, Eisman is advocating for a diversified investment strategy that includes bonds and sectors beyond technology. He believes that while tech stocks will always have a place in investment portfolios, the current market dynamics necessitate a broader approach. His insights into the future of infrastructure investment are particularly timely, given the increasing focus on sustainability and modernization in the U.S.
With an estimated net worth of $1.5 billion, Steve Eisman remains a formidable figure in the investment community. His ability to identify and capitalize on market trends has solidified his reputation as a savvy investor. As he continues to navigate the complexities of the financial landscape, his focus on infrastructure and green initiatives may very well define the next chapter of his illustrious career.
| Information | Details |
|---|---|
| Name | Steve Eisman |
| Date of Birth | July 8, 1962 |
| Education | University of Pennsylvania (BA), Harvard Law School (JD) |
| Occupation | Managing Director and Portfolio Manager at Neuberger Berman |
| Known For | Betting against subprime mortgages during the 2008 financial crisis |
| Spouse | Valerie Feigen (m. 1989) |
| Net Worth (2024) | $1.5 billion |
FAQs
What is Steve Eisman’s net worth?
As of 2024, Steve Eisman’s net worth is estimated to be around $1.5 billion.
What is Steve Eisman known for?
Steve Eisman is best known for his successful bet against subprime mortgages during the financial crisis of 2007-2008, which was detailed in Michael Lewis’s book “The Big Short.”
Where does Steve Eisman currently work?
Steve Eisman is currently a managing director and portfolio manager at Neuberger Berman.
What are Steve Eisman’s current investment focuses?
Eisman is focusing on investing in U.S. infrastructure, industrial onshoring, and green initiatives as part of his investment strategy.
Who is Steve Eisman’s spouse?
Steve Eisman has been married to Valerie Feigen since 1989.