She’s very good and informed, but not really unbiased. She rose to fame for her opinion pieces in Social Democratic publications. However, I respect and commend her professionalism, even if I don’t share her political views
@@rovhalt6650 You watch the video. She sat there, interviewing him. Being unbiased. Yet, somehow, you claim she can't. Because she is Swedish? That is perhaps, one of the most moronic comment i have seen on youtube.
That journalist would never get a job on the BBC. There is no room for unbiased interviewers asking unbiased questions who then actually allow their guests to answer questions in that government outfit.
humans, in general, underestimate low probability negative outcomes (eg financial crises, natural disasters); and overestimate low probability posivitive outcomes (eg gambles, lottery wins)
Steve Eisman appears to be enjoying himself too, which is not obviously apparent in other interviews of his. She doesn't interrupt him either, which I love.
I watched it and part way through realized she was as interesting as Eisman is. She is obviously well read. Know's her current world and financial events and is not a talking head. She knew enough to lead Eisman down roads he otherwise would not have talked about. We need more journalist like her.
He was wrong about Tesla and his short ended badly. I really like him though. His mistake was thinking about Tesla as a car company, which it ain't. It's a technology company
Eisman is amazingly insightful and rational as usual, however its the interviewer who made this such a valuable interview by allowing him to speak, asking smart questions and above all, also understanding deeply the matter they are discussing. More interviews like this please.
That has got to be the nicest interviewer I’ve ever seen. She tries her hardest to make him feel comfortable even when English is her second language it seems.
Fantastic interview. Very informative. Eisman's character in "The Big Short" was like an Old Testament prophet screaming into the abyss. I'd buy his picks.
Actually it was Michael Burry who saw it coming. He shorted stock that triggered Lippman who did more research then approached Eisman. Eisman made most money bcoz he had most funds.
It's weird he says that the establishment has utterly failed especially with fair wealth distribution but then when a socialist looks to reform the establishment in a more stable method he thinks it's a disaster. Seems contradictory and it's not brought up by the interviewer.
@@jimbraatz4514 i read up on Corbyn's position and the first thing I read gave me worry. Dude wants to print money for infrastructure. That's not good in any way.
Just stumbled on to the 'EFN' channel, watching two interviews with Mr. Eisman. Both Mr. Eisman and the women directing the line of questioning are excellent
I mean many/most stocks already bounced back quite a bit. Don't know if this actually qualifies. Maybe we'll see another drop later this year to justify calling it financial recession.
@@MrC4ctu5 you probably right , but price of stock market is effect of what happening in main street , and small business are not even near good conditions , and base on expenses and bailouts of feds and government i don't think government have any plane for printing more money this year. and eventually it will hit stock market. i am not a Economist i know nothing probably i am wrong.
And to be fair, Steve Eisman functions strictly within the financial world. He does not have the ability to predict external forces on that realm. He could anticipate how external forces might be impactful, but not the what and when.
I’m not sure what experts he’s talking to about autonomous driving leaders. All the experts I’ve heard talk about the subject have said that Tesla is in the lead.
@@TheStrengthSummit that doesn't mean that it will always continue like that. The point is that he is shorting them so that in the future when other companies produce more electric vehicles and telsa lose market share their stocks will fall and he will then get a large return on investment. Look at Tesla stocks now compared to when this video was released.
I love to listen to Steve Eisman in these youtube interviews, and when he does presentations. Thank you, Mr. Eisman for all the interviews you do and the presentations you've done which are available to us on youtube! I also liked very much, Grant Williams' interview of Anthony Deden. I will watch it again. Lynette Zang seems to share his thoughts on the stress tests. And when GM failed, my dad's retirement investment (part of it), of $30k went, "Poof!"
Everyone with more than 3 brain cells has been saying that for years. Tesla is not priced according to its success, but according to its religious following of cretins
Very smart guy. Interesting how he can be so wrong about Tesla though. When he said that the leaders in self driving cars are Google and GM I had to laugh out loud, he shouldn't talk so much about technology if he has no clue about it. "Do you like shorting something that you dislike?" - great question 😂
Eisman is not worried anymore! I don't know if that should calm me down or scare the shit out of me! Maybe he just don't want particular instruments to be priced in correctly :)
So income inequality caused the financial crash, but the one political leader who really wants to redress that balance in the UK (Corbyn) would be disastrous for the country? What am I missing?
As a German i say, Brexit looks like it is wrong and they may struggle for a while but on the long run they will benefit from leaving, because the EU is on the way to collaps.
As a British person who voted Brexit I did so for the following reasons 1) Greece ... we do not want to have basically Germany throwing us under the bus for its car industry and a low priced Euro. German Franco collusion was always a ganging up vs the UK. 2) No matter how bad our government is, we can always vote them out. You can't vote out Junker, Barnier, Verhofstadt et al. I fear dictatorship ... it leads to tyranny. 3) Some countries will always pay more in than they get out. We are one of them. That's not maths you want to be part of. 4) Merkel's millions. Absolutely terrifying. You have to bear in mind the rapes in cologne were just 2 months before we had our vote. The EU was going down a path of open doors for EVERYONE, not just Europeans and we had a backdrop of immigrant terrorism and crime ... Sweden was also a mess at the time and Italy was being forced to take Mediterranean immigrants by the boat load. 5) Every time we had an issue our politicians shrugged and said "EU makes those laws". Immigration causing wage compression and house price inflation "Sorry free movement of people, nothing we can do." EU regulation hurting small businesses "EU High court, nothing we can do". Cost of living is rocketing "Customs Union, sorry". And so the British people thought "If the EU is the problem, we'll remove that problem for you". And once we Brexit all those things will be back on the table and our politicians are terrified. 6) Eurozone debt ... we don't want to be on the hook for that come the next recession when euro banks go to the wall and the bailouts begin again. - The only counter argument was "you'll have a bit less money in the near term". A price worth paying.
He's wrong about so much Re: Tesla. Tesla is THE world leader in self driving tech. They demonstrated level 5 in 2016 - 4 years ago! They *have* made a mass market car. The model 3 sold over 300,000 in 2019! I'd call that a mass market car. Telsa doesn't have cult followers. It has enthusiastic customers - enthusiastic because we're driving the objectively best cars in the world. If he was short Tesla back in January 2019, he'd be short around $350. It's over $450 today. I wonder how much that hurt.
They aren't the leader in self-driving tech, GM is; they haven't demonstrated anything close to level 5 autonomy; Musk promised it in 2017 and never delivered; the Model 3 is in no way a mass-market car. It hasn't even sold half a million units yet. GM does that in a month. His followers are definitely part of a cult. They believe he is the real life Tony Stark that can do no wrong. It's currently at 530. The reason it's that high is the same reason Bitcoin was at nearly $20,000 for its high; FOMO. The actual metrics of the company aren't relevant to its price. The stock is the most shorted and volatile on the market; that means huge paydays for both bears and bulls.
Well, he's not exactly the dalai lama of financial speculation. He was wrong on Brexit and wrong on Tesla shorts. The two biggest shorts of his career besides the housing markets. So as far as I'm concerned, he's batting minor league averages.
No, $35k is average for cars and suv. But the Tesla Model 3 is a car, not a suv; the average ICE car (Toyota Camry) is $18k-$25k so that makes the Tesla Model 3 at $35k + $1500 non black color + $ home charger Besides, this is stripped down: - manual seats - manual steering adjustments - cloth seats (for a $35k car?). Really? - basic audio
@@MrSpiritmonger Adding one from the main line from the house for a duel car plug in cost me about 1200$ for a permanent improvement, that also gives me better out side of the house access to many electrical devices, lighting, and such. for 180$ more I could have had it made into a six car charge port outlet, rather then just a dual one I installed (I could still easily expand on to it cheaply if i need to.) This allowed me to also add an electrical lawn tractor to do my lawn work, mowing, garden tilling, snow blowing, and plowing. I love the improvement electric lawn tractors are way better then any ice lawn tractors i have had. Just from the maintenance, and utility stand point alone. It is also more powerful then any ice lawn tractor i have owned. The electrical powered lawn tractors are much cheaper to run then gas powered ones. The last year I had a gas tractor between fuel and maintenance it cost me $1,434 to run it for the whole year, not counting the specialty tools that were required to service it. It was both lawn mower and snow blower, and I also had a plow attachment to make snow management even easier. The electric tractor I currently have came with a 10 year warranty that covers every thing one the machine. It never needs any routine servicing other then replacement blades ever year or two (not sure, I have not had to replace the blades on it yet, and i'm on year two. I also have the mower built in and the plow and snow blower attachments (and a few others) to go with it. It cost me about $250 more then the ice lawn tractor to buy but the electricity cost to use it is negligible. All in all i'm glad I switched to electric.
Hes right about GM, however the nature of GM's autonomous solution is local to the US and won't easily scale worldwide. I also believe it can't scale work on most country roads, alleyways, parking lots, and all the other low traffic places. The company that solves self driving on every US highway and every major US city street will be worth well over a hundred billion dollars. The company that solves self driving for every sealed or metal road and parking lot in the world will be worth over a trillion. I'm long on Tesla because as a Software Engineer I believe they are the furthest along solving the trillion dollar problem. I think google and GM have chosen to solve the 100 billion dollar problem and will likely get there first.
Tesla is very overvalued. Tesla has sold less cars in it's lifetime than Ford sells F250s in any given year. Tesla stock price is purely speculation which is terrible for value investing.
Citi? That's not a UK bank. And although HSBC is technically a UK bank, I'd guess it's much more diversified in assets (Hong Kong and Shanghai Banking Corp?). I'm 95% sure one of them is RBS, the other likely Lloyds and I'd agree with Barclays.
It seems a bit desperate to bet that a guy who spent his formative years in the heart of the sillicon valley e-commerce boom won't understand how to scale up his company.
Conveniently ignores that GM will have to cannibalize their current sales to start making EVs they are years from having positive margins on. There is a good reason it's valued so cheaply. Also saying Google or GM are the leaders in autonomous driving when TSLA has billions more miles of data. Data is food for AI essentially and if you consider total miles collected to data, TSLA has over 90% of them currently. The points about service are fair but still addressable so we'll see I guess.
Would have loved a follow up to hear his take on the current UK situation and outlook. She's a gem of an interviewer but I believe she no longer works for EFN :(
The liabilities associated with autonomous vehicles will far exceed the value of the technology, as applied directly to autonomous vehicles. The application of the technology to improving the safety of non-autonomous vehicles has a value that exceeds the liability because there can be a reasonableness test applied to the responsibility of the driver. Autonomous vehicles will never exist as a mass market product.
Darin Pearson, I think your point is well thought out. To expand your point, would you agree that autonomous car technology would have to be ushered in by insurance companies? The regional nature to insurance would make it difficult imo..... Thanks for the insight to ponder
So GM has gone from $40 to 60 per share since this interview in Jan. 2019. Surprised he didn’t think Tesla was a leader in self driving capability, but he was shorting it…….and now Tesla has gone from 70 to $1000 per share since Jan 2019. 🤦♂️. You cant be right all the time i guess. Still an interesting guy with lots of tidbits in there.
The cause of the credit crisis was the "democratization of credit?" I guess that's one way to look at it. Another way might be the banking and mortgage industry needed more and more MBSs to keep the party going. The old "pocket the cash and pass the hot potato down the line" game. "Right Steve?"
2019 time frame looks like TSLA ran around $300 per share. Then split 5:1 in 2020 and 3:1 in 2022 and still proceeded to trade above $300, for a factor of 15x gain over four years. Shorting Tesla in 2019 would have been disastrous. Slacked off more recently towards a mere $100. Summer of 2022 was the last great shorting opportunity for those who foresaw heavy selling necessary to finance a Twitter takeover. Place your bets on where it goes moving forward from here.
Unequal distribution of wealth isn't a product of the system it's a product of varying levels of competence. Look it up. People with higher IQ do better on average in any system you put them in.
The mistake Eisman is making re: Tesla is to focus on the autonomous driving. It’s the battery technology that is the selling point. People buy EVs for environmental conservationist reasons, not the AD feature. In any case I’m very confident that he’s also dramatically underestimating Tesla’s autonomous driving advances which include AI deep learning and interconnectedness between his entire global fleet of vehicles, which learn to drive from the vehicle owners collective driving habits. I’m unaware if any other company is doing that, but it’s a winning formula imo. NB*. There are wild rumours floating around about some very near world changing announcements concerning battery technology breakthroughs that will be mass produced. The word is that Tesla has been working with John Goodenough himself, you know: the inventor of the Lithium ion battery that enables our modern way of life, smart phone powering, etc? Stay tuned for Tesla’s upcoming Battery and Drive Train Investor Meeting early this year.
@@wilhelmh9495 Looks like there are 2 points here I was wrong on. Thanks for the reminder. I don’t think Eisman factored in Elons unpredictable future behaviour in his short thesis, which alone has brought the stock price down over the Twitter saga. Now is the time to go long Tesla. The Twitter circus is almost over.
@@wattlebough Fair enough, you do you. I think you’ll find that the American liberals that were the backbone of Teslas customers are out. And the other side doesn’t do electric.
I though I had a stroke when the interviewer start speaking in Swedish.
😂😂
That happens to me on a daily basis
why is that?
i met a swedish girl once, thought she was a brit. their english skills seem amazing, it must be taught well in school there
Tyler Sin 🤣😂🤣😂
The only respectable, unbiased journalist i've seen in a long time. Good interview.
LOL no
She’s very good and informed, but not really unbiased. She rose to fame for her opinion pieces in Social Democratic publications.
However, I respect and commend her professionalism, even if I don’t share her political views
yes cause its not american corporate media
Nah. She's a swedish journalist. There's nothing more biased than a swedish journalist.
@@rovhalt6650 You watch the video. She sat there, interviewing him. Being unbiased. Yet, somehow, you claim she can't. Because she is Swedish? That is perhaps, one of the most moronic comment i have seen on youtube.
I love listening to Steve. He’s such a rational straight shooter
I just discovered Steve he is a real gem. People talk about Burry more but Steve's thinking and analysis is a lot more current I think
She's a great interviewer
That journalist would never get a job on the BBC. There is no room for unbiased interviewers asking unbiased questions who then actually allow their guests to answer questions in that government outfit.
Same in USA, joke
humans, in general, underestimate low probability negative outcomes (eg financial crises, natural disasters); and overestimate low probability posivitive outcomes (eg gambles, lottery wins)
Greed n complacency
Onur Somebody watched The Big Short
I don't. That's why I never fly.
Because no one wants to die and everybody wants to win.
Is more about the desire, than the prediction or estimation.
This interviewer is amazing, it is so bizarre compared to the trash you usaully get
Steve Eisman appears to be enjoying himself too, which is not obviously apparent in other interviews of his. She doesn't interrupt him either, which I love.
hell of a british accent there from a Swedish journalist :o
She really is fantastic. A great well-rounded interview and all the right questions
@@ricochetVendetta You even hear her speaking swedish and her speech changed so much instantly it was jarring
I watched it and part way through realized she was as interesting as Eisman is. She is obviously well read. Know's her current world and financial events and is not a talking head. She knew enough to lead Eisman down roads he otherwise would not have talked about. We need more journalist like her.
"The For-Profit Education Industry is a Non-Ethical Industry." Well said! There are glimmers of light in the dark world that is Wall Street.
He’s so blunt that I can’t help but like him!
He is wrong about Tesla.
@@radbarij None but I bought 3 shares of Tesla lol
He was wrong about Tesla and his short ended badly. I really like him though. His mistake was thinking about Tesla as a car company, which it ain't. It's a technology company
@@joaosas He was wrong because he underestimated the cult
@@joaosas he's absolutely right about Tesla. What he underestimated was the irrational Tesla army. Like yourself
It is so nice to have an interviewer who wants to listen and an interviewee who is genuinely interesting.
Eisman is amazingly insightful and rational as usual, however its the interviewer who made this such a valuable interview by allowing him to speak, asking smart questions and above all, also understanding deeply the matter they are discussing. More interviews like this please.
That has got to be the nicest interviewer I’ve ever seen. She tries her hardest to make him feel comfortable even when English is her second language it seems.
It might technically be her second language, but she speaks it absolutely perfectly so it isn't really a factor. She is fantastic though.
Fantastic interview. Very informative. Eisman's character in "The Big Short" was like an Old Testament prophet screaming into the abyss. I'd buy his picks.
Actually it was Michael Burry who saw it coming. He shorted stock that triggered Lippman who did more research then approached Eisman. Eisman made most money bcoz he had most funds.
So technically prophet is Burry
super Joshi yup, Burry is the real prophet. Look up his opinion on the index fund bubble, something bad is coming again.
This is the type of interview I enjoy watching. Well done
He enjoys talking to this girl. I watched another one of his interview with her and he is super there too. I mean he’s a great interview.
Jeremy Corby makes Bernie Sanders look like a raging capitalist. That's way too funny.
It's weird he says that the establishment has utterly failed especially with fair wealth distribution but then when a socialist looks to reform the establishment in a more stable method he thinks it's a disaster. Seems contradictory and it's not brought up by the interviewer.
@@jimbraatz4514 i read up on Corbyn's position and the first thing I read gave me worry. Dude wants to print money for infrastructure. That's not good in any way.
@@fallout560 Yeah MMT is kinda scary, i don't agree with that aspect either.
I also, for the record, don't see how MMT is socialist.
Let’s hope it stays funny.
it is mostly the political dimensions of brexit that is analysed and hence this is a very refreshing and unique take
It's hard to short a stock that's a cult.
Game stonk ! To the moon ! 🚀🚀🚀
Damn it - this man is so thorough with his Research and clarity of thought
The interviewer is incredibly charming.
She’s a great interviewer. Hope she has a happy, healthy baby by now 🙂
came for Steve Eisman, stayed for the remarkably well conducted interview
the more i listen to him, the more i wish he was a policy maker.
Just stumbled on to the 'EFN' channel, watching two interviews with Mr. Eisman. Both Mr. Eisman and the women directing the line of questioning are excellent
Steve Eisman : next financial recession will not happen in this year or next ,
corona : hold my beer
I mean many/most stocks already bounced back quite a bit. Don't know if this actually qualifies. Maybe we'll see another drop later this year to justify calling it financial recession.
@@MrC4ctu5 you probably right , but price of stock market is effect of what happening in main street , and small business are not even near good conditions , and base on expenses and bailouts of feds and government i don't think government have any plane for printing more money this year. and eventually it will hit stock market.
i am not a Economist i know nothing probably i am wrong.
And to be fair, Steve Eisman functions strictly within the financial world. He does not have the ability to predict external forces on that realm. He could anticipate how external forces might be impactful, but not the what and when.
still didn't happen
@@nemeanlioness yea
Pretty damn prophetic... pre-GME 👏👏
Both the people having the conversation were a thinking persons delight !! Good interviewer
Everyone is talking about his Tesla short, but he also shorted Zillow in the low 30's in fall of 2019, and the stock went to $156 18 months later.
oof
Nice interview. If only all journalists could emulate this.
A maintenance problem with TESLA Cars. Yup, that's a problem.
All systems and entities depend on faith in them to thrive. When faith in them falters they follow.
That Tesla short has paid off big time since this interview in Jan 2019
Since this interview it went from $334 to $246 a share. I thin I'm going to buy some GM after listening to him.
I’m not sure what experts he’s talking to about autonomous driving leaders. All the experts I’ve heard talk about the subject have said that Tesla is in the lead.
@@TheStrengthSummit for now, Porsche just released the new EV and other companies will follow
jalalala akalalala yep, they have. But the Taycan costs significantly more than the Model S and the performance isn’t even as good.
@@TheStrengthSummit that doesn't mean that it will always continue like that. The point is that he is shorting them so that in the future when other companies produce more electric vehicles and telsa lose market share their stocks will fall and he will then get a large return on investment. Look at Tesla stocks now compared to when this video was released.
A rational conversation in an irrational world.
I love to listen to Steve Eisman in these youtube interviews, and when he does presentations. Thank you, Mr. Eisman for all the interviews you do and the presentations you've done which are available to us on youtube! I also liked very much, Grant Williams' interview of Anthony Deden. I will watch it again. Lynette Zang seems to share his thoughts on the stress tests. And when GM failed, my dad's retirement investment (part of it), of $30k went, "Poof!"
Yes! I've been saying that with Tesla for years! Plus their quality is spotty.
Everyone with more than 3 brain cells has been saying that for years. Tesla is not priced according to its success, but according to its religious following of cretins
Anchor is awesome hats off...
Katrine Marcal is the best damn journalist working in the UK today. I've just ordered her book 'Who Cooked Adam Smith's Dinner?'
is she a free market girl?
I have a lot of time for Steve Eisman but I think he’s got it wrong on Tesla.
You'd be right too (: lol
Here after Elon Musk became the richest person on earth, yeah nah I’m on Eismans side this shit is overvalued af and most definitely a cult.
Most definitely a cult.
@@chrish267 why’s your opinion any better? Fuck up idiot hahah
Tesla to the moon
I think that Elon Musk will eventually go down as the biggest fraudster in the history of capitalism.
Very smart guy. Interesting how he can be so wrong about Tesla though.
When he said that the leaders in self driving cars are Google and GM I had to laugh out loud, he shouldn't talk so much about technology if he has no clue about it.
"Do you like shorting something that you dislike?" - great question 😂
His autonomous driving statement really shocked me, who would even say some wild shit like that, even in 2019?
Eisman is not worried anymore!
I don't know if that should calm me down or scare the shit out of me! Maybe he just don't want particular instruments to be priced in correctly :)
"ZERO."
Vennet: "Mark Baum really did that. Now you see what I had to deal with."
BOOM!!
Wow. That Tesla short position is a bummer given the price action ytd.
GM Market cap $51.6B, Net debt $92.4B, Enterprise Value/Revenue: 1, EV/EBITDA 10.55. End of economic cycle. Is that pristine?
It has been “6 months to a year”. What do you think of credit quality now?
he short Tesla? how much did he loose?
Helt fantastiska intervjuer ni fått till!
9:11 and... he was right once again
About Tesla or the banks?
2 years later. How’s that Tesla short going for you
Danny Devito's penguin was based on Steve Eisman.
So income inequality caused the financial crash, but the one political leader who really wants to redress that balance in the UK (Corbyn) would be disastrous for the country? What am I missing?
Sounds like he saying having Corbyn come in and then Brexit going through at the same time would be a bad mix.
Fantastic interviewer-- this woman is great
Great interview , but credit card and student loan delinquencies are at record levels in the US , so certain areas of the credit market are not rosey
Corporate debt levels at record high as well...
That's already priced into the loans. That's why the interest rates are so high for student loans.
Have no fear congress can bail out any bunch of unworthy shitheads it chooses.
Excellent interviewer and interviewee
Don't believe in Tesla but do believe in General Motors......Well it's a year on and is Steve's assessment the same?
Both compliment each other...well done..
Yes doesn't seem angry any more after his big short
2 years ahead of its time
I need to follow this guy.
GM and Google are leaders in autonomous driving? That aged well -.-
I hope he retracted that Tesla short... 2020 didn't look favorably upon that move.
Great interviewer, great interviewee. Great job.
As a German i say, Brexit looks like it is wrong and they may struggle for a while but on the long run they will benefit from leaving, because the EU is on the way to collaps.
As a British person who voted Brexit I did so for the following reasons
1) Greece ... we do not want to have basically Germany throwing us under the bus for its car industry and a low priced Euro. German Franco collusion was always a ganging up vs the UK.
2) No matter how bad our government is, we can always vote them out. You can't vote out Junker, Barnier, Verhofstadt et al. I fear dictatorship ... it leads to tyranny.
3) Some countries will always pay more in than they get out. We are one of them. That's not maths you want to be part of.
4) Merkel's millions. Absolutely terrifying. You have to bear in mind the rapes in cologne were just 2 months before we had our vote. The EU was going down a path of open doors for EVERYONE, not just Europeans and we had a backdrop of immigrant terrorism and crime ... Sweden was also a mess at the time and Italy was being forced to take Mediterranean immigrants by the boat load.
5) Every time we had an issue our politicians shrugged and said "EU makes those laws". Immigration causing wage compression and house price inflation "Sorry free movement of people, nothing we can do." EU regulation hurting small businesses "EU High court, nothing we can do". Cost of living is rocketing "Customs Union, sorry". And so the British people thought "If the EU is the problem, we'll remove that problem for you". And once we Brexit all those things will be back on the table and our politicians are terrified.
6) Eurozone debt ... we don't want to be on the hook for that come the next recession when euro banks go to the wall and the bailouts begin again.
- The only counter argument was "you'll have a bit less money in the near term". A price worth paying.
I cant see your comment
@@mrscreamer379 yeah, that's German government for you. Bunch of globalists ChiComm loving commies.
@@AndreAndFriends well that was one very stupid comment
Isomer Soma thx for your comments.
Still I’m right. You’re wrong.
Get educated. Then we will talk.
@5:51 Epic quote
He's wrong about so much Re: Tesla. Tesla is THE world leader in self driving tech. They demonstrated level 5 in 2016 - 4 years ago! They *have* made a mass market car. The model 3 sold over 300,000 in 2019! I'd call that a mass market car.
Telsa doesn't have cult followers. It has enthusiastic customers - enthusiastic because we're driving the objectively best cars in the world. If he was short Tesla back in January 2019, he'd be short around $350. It's over $450 today. I wonder how much that hurt.
Wait till those Tesla's begin to age and the cost of replacing batteries becomes apparent.
They aren't the leader in self-driving tech, GM is; they haven't demonstrated anything close to level 5 autonomy; Musk promised it in 2017 and never delivered; the Model 3 is in no way a mass-market car. It hasn't even sold half a million units yet. GM does that in a month. His followers are definitely part of a cult. They believe he is the real life Tony Stark that can do no wrong.
It's currently at 530. The reason it's that high is the same reason Bitcoin was at nearly $20,000 for its high; FOMO. The actual metrics of the company aren't relevant to its price. The stock is the most shorted and volatile on the market; that means huge paydays for both bears and bulls.
watching this sept 2019 Mr. Eisman !
Man epic call on the housing bubble, but those Tesla shorts really did not age well
Well, he's not exactly the dalai lama of financial speculation. He was wrong on Brexit and wrong on Tesla shorts. The two biggest shorts of his career besides the housing markets. So as far as I'm concerned, he's batting minor league averages.
He also shorted Zillow just before it's huge run up.
Or was he? All cults fail.
@@wilhelmh9495 Electric vehicles are now a cult? LOL
The story is not over pal.
@@wills8288 There are more electric cars than Teslas.
@@wilhelmh9495 So what? There are more microwaves than teslas as well.
Are you an moron or just chat like one?
i shorted GM and bought TSLA in december 2019 and made $2500
No, $35k is average for cars and suv. But the Tesla Model 3 is a car, not a suv; the average ICE car
(Toyota Camry) is $18k-$25k so that makes the Tesla Model 3 at $35k + $1500 non black color + $ home
charger
Besides, this is stripped down:
- manual seats
- manual steering adjustments
- cloth seats (for a $35k car?). Really?
- basic audio
@@MrSpiritmonger Adding one from the main line from the house for a duel car plug in cost me about 1200$ for a permanent improvement, that also gives me better out side of the house access to many electrical devices, lighting, and such. for 180$ more I could have had it made into a six car charge port outlet, rather then just a dual one I installed (I could still easily expand on to it cheaply if i need to.)
This allowed me to also add an electrical lawn tractor to do my lawn work, mowing, garden tilling, snow blowing, and plowing. I love the improvement electric lawn tractors are way better then any ice lawn tractors i have had. Just from the maintenance, and utility stand point alone. It is also more powerful then any ice lawn tractor i have owned. The electrical powered lawn tractors are much cheaper to run then gas powered ones. The last year I had a gas tractor between fuel and maintenance it cost me $1,434 to run it for the whole year, not counting the specialty tools that were required to service it. It was both lawn mower and snow blower, and I also had a plow attachment to make snow management even easier. The electric tractor I currently have came with a 10 year warranty that covers every thing one the machine. It never needs any routine servicing other then replacement blades ever year or two (not sure, I have not had to replace the blades on it yet, and i'm on year two. I also have the mower built in and the plow and snow blower attachments (and a few others) to go with it. It cost me about $250 more then the ice lawn tractor to buy but the electricity cost to use it is negligible.
All in all i'm glad I switched to electric.
Now do cost of maintenance
SR+ does not have any of the 4 things you list. Clearly you have never sat in one. You should. Ignorance, plain and simple
That is a fucking smart dude. Love listening to him think.
How can you listen to someone think?
I am long GM and bought today...Yeaa!!!!
Hes right about GM, however the nature of GM's autonomous solution is local to the US and won't easily scale worldwide. I also believe it can't scale work on most country roads, alleyways, parking lots, and all the other low traffic places.
The company that solves self driving on every US highway and every major US city street will be worth well over a hundred billion dollars.
The company that solves self driving for every sealed or metal road and parking lot in the world will be worth over a trillion.
I'm long on Tesla because as a Software Engineer I believe they are the furthest along solving the trillion dollar problem. I think google and GM have chosen to solve the 100 billion dollar problem and will likely get there first.
Youre a software engineer *and* you believe that Tesla is the closest to autonomous vehicles?
You are one of the stupidest programmers in the world.
@@ThunderAppeal Nobody is going to get the trillion dollar solution.
If you can stay rational in the midst of everyones emotions, you'll win no matter how the trade turns out.
Tesla is very overvalued. Tesla has sold less cars in it's lifetime than Ford sells F250s in any given year. Tesla stock price is purely speculation which is terrible for value investing.
Aging like milk in the fine summer heat!
Most likely Citi, HSBC and Barclays.
Citi? That's not a UK bank. And although HSBC is technically a UK bank, I'd guess it's much more diversified in assets (Hong Kong and Shanghai Banking Corp?). I'm 95% sure one of them is RBS, the other likely Lloyds and I'd agree with Barclays.
"Which 3 banks are not important"
Watch me short any 3 UK banks and lose LOL!!
that's pretty much what has just happened! Stonking great big conservative majority and a no-deal brexit looks unlikely.
It seems a bit desperate to bet that a guy who spent his formative years in the heart of the sillicon valley e-commerce boom won't understand how to scale up his company.
Scaling up a car manufacturing company is completely different from scaling up a software or cloud company.
@@ElvishShellfish Which is why it has taken longer than Musk originally thought. Yet they are doing just that.
@@ElvishShellfish aged like milk in the summer heat. Bravo
very interesting interview. Thank you
His short on TSLA made him look like a fool. His investment in GM makes him an idiot.
Conveniently ignores that GM will have to cannibalize their current sales to start making EVs they are years from having positive margins on. There is a good reason it's valued so cheaply. Also saying Google or GM are the leaders in autonomous driving when TSLA has billions more miles of data. Data is food for AI essentially and if you consider total miles collected to data, TSLA has over 90% of them currently. The points about service are fair but still addressable so we'll see I guess.
They don't have that much data, that is one of many lies pushed by Musk.
@@scoobydoo3322 like maybe check how many autonomous cars are driving ?
His GM valuation now puts their stock at a 3.35 P/E
But the autonomous driving sector valuation has been slashed too. It doesn´t seem that easy after all.
Would have loved a follow up to hear his take on the current UK situation and outlook. She's a gem of an interviewer but I believe she no longer works for EFN :(
I like his commenta on Tesla. I can't finance the shorting of Tesla, but you can't afford being the sole repairman of your product when you sell cars.
She is excellent.
This interview has aged so well with time😂😂.
The liabilities associated with autonomous vehicles will far exceed the value of the technology, as applied directly to autonomous vehicles. The application of the technology to improving the safety of non-autonomous vehicles has a value that exceeds the liability because there can be a reasonableness test applied to the responsibility of the driver. Autonomous vehicles will never exist as a mass market product.
Darin Pearson, I think your point is well thought out. To expand your point, would you agree that autonomous car technology would have to be ushered in by insurance companies? The regional nature to insurance would make it difficult imo..... Thanks for the insight to ponder
Finally someone else thinks like me about autonomous vehicles...
Your thinking is too short. Autonomous vehicles will happen. You probably only disagree with the timing. You maybe say 50 years? I say 5-10
So GM has gone from $40 to 60 per share since this interview in Jan. 2019.
Surprised he didn’t think Tesla was a leader in self driving capability, but he was shorting it…….and now Tesla has gone from 70 to $1000 per share since Jan 2019. 🤦♂️.
You cant be right all the time i guess. Still an interesting guy with lots of tidbits in there.
ruclips.net/video/bw9CALKOvAI/видео.html
And now it’s cratering. All cults fail.
The cause of the credit crisis was the "democratization of credit?" I guess that's one way to look at it. Another way might be the banking and mortgage industry needed more and more MBSs to keep the party going. The old "pocket the cash and pass the hot potato down the line" game. "Right Steve?"
Look at what happened to Tesla this week this guy is a genius
Cevin Willson is he still a genius, look what happened to Tesla this week.
Do u guys know where what price he shorted the stock?!
And now is he?
2019 time frame looks like TSLA ran around $300 per share. Then split 5:1 in 2020 and 3:1 in 2022 and still proceeded to trade above $300, for a factor of 15x gain over four years. Shorting Tesla in 2019 would have been disastrous. Slacked off more recently towards a mere $100. Summer of 2022 was the last great shorting opportunity for those who foresaw heavy selling necessary to finance a Twitter takeover. Place your bets on where it goes moving forward from here.
Has Steve covered his TSLA short now?
He is still short Tesla....
Jeremy Corbyn becoming PM hasn't aged well, but no-one knew how the election would go till the exit polls were released
It was pretty obvious he never would. The working class was never going to support pointless American identity politics.
@@Splozy you think the only thing jeremy corbyn could have potentially offered to the working class is american identity politics ????? hilarious
@@Rubiecat Why are you trying to put words in my mouth? I don't think that and my post doesn't say that.
When was this interview?
I think it was Oct 2018 (that was when GM was trading at the price mentioned of $30.00.....
Unequal distribution of wealth isn't a product of the system it's a product of varying levels of competence. Look it up. People with higher IQ do better on average in any system you put them in.
Uh oh he shorted Tesla in 2019 lol. Tesla was sub $70 in 2019 looool.
His Tesla short didn't really work now did it...
Can we short scientology
He shorted TSLA??? #REKT
The mistake Eisman is making re: Tesla is to focus on the autonomous driving. It’s the battery technology that is the selling point. People buy EVs for environmental conservationist reasons, not the AD feature. In any case I’m very confident that he’s also dramatically underestimating Tesla’s autonomous driving advances which include AI deep learning and interconnectedness between his entire global fleet of vehicles, which learn to drive from the vehicle owners collective driving habits. I’m unaware if any other company is doing that, but it’s a winning formula imo.
NB*. There are wild rumours floating around about some very near world changing announcements concerning battery technology breakthroughs that will be mass produced. The word is that Tesla has been working with John Goodenough himself, you know: the inventor of the Lithium ion battery that enables our modern way of life, smart phone powering, etc? Stay tuned for Tesla’s upcoming Battery and Drive Train Investor Meeting early this year.
Rest in pieces.
@@wilhelmh9495 Looks like there are 2 points here I was wrong on. Thanks for the reminder. I don’t think Eisman factored in Elons unpredictable future behaviour in his short thesis, which alone has brought the stock price down over the Twitter saga. Now is the time to go long Tesla. The Twitter circus is almost over.
@@wattlebough Fair enough, you do you. I think you’ll find that the American liberals that were the backbone of Teslas customers are out. And the other side doesn’t do electric.
about Tesla!!!
Great fluidity with the followup questions. I felt like I was being taken on a guided tour down white water rapids.
I love this interviewer.