"The Big Short" Eisman Recants His Prediction of Trump's Victory
On September 20, according to Bloomberg, "Big Short" archetype Steve Eisman said he "doesn't know" who will win the US presidential election—reversing his earlier prediction that Trump would win—but he said the market would perform well in any scenario except a Democratic sweep.
Eisman said in an interview on Bloomberg Television on Thursday: "I take back my prediction," referring to President Joe Biden's decision to run for re-election. He had said in July that Trump would win regardless of whether this happened.
Eisman said that the market would take a direct hit in anticipation of rising taxes if the Democrats win both houses of Congress and the White House. But if Harris takes the White House and the Democrats don't achieve a sweep, then the market would "be fine." Eisman reiterated that his portfolio is heavily invested in artificial intelligence, technology stocks, and infrastructure.