I happen to think the whole banking sector is 'uninvestable', says Neuberger Berman's Steve Eisman
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- Опубликовано: 20 сен 2023
- Steve Eisman, Neuberger Berman senior portfolio manager, joins 'Squawk Box' to discuss the latest market trends, the Fed's inflation fight, the state of the banking sector, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
you’re right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems
I'm being guided by Aileen Gertrude Tippy who is widely recognized for her competence and expertise in the financial market. She has a thorough understanding of portfolio diversification and is regarded as an authority in this field.
Thank you for this tip. It was easy to find on web your coach Aileen Gertrude Tippy, Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
It boggles my mind that people who claim to be numbers driven economists can look at how much money the government is spending and how much cost of living has gone up and still say "this is fine, we could have a soft landing"
Most underrated comment here 👏
CNBC is a quack show with quack guests. They're all clueless.
The government spending can lead to a soft landing. I don't think it's going to happen, but spending is what buoys the economy up. Government spending is softening the landing not making it harder.
They are paid off to be perpetual Polly Anna’s 😬
The interest on the debt is where the spending will go, the Electeds are accelerating into a brick wall@@stevecatpatrick8056
He has ZERO confidence in his statements, just listen and watch his body language
Thought I was the only one seeing this
he’s a 🤡 , the steve carrel version is better
Just do the opposite of what the "professionals" say.
The only REAL PROBLEM here today is the VALUATIONS!!!! Fix those and everything just like before all this crap after the GFC!!!!!
The banking sector is the sector with the largest proportion of profitable companies in it. Only four industry sectors have a higher proportion of profitable firms, and all of them are oligopolistic with a small to extremely small number of companies.
So he might find it uninvestable, because he cannot figure out the risk, but it is a financially very successful sector of the economy.
I respect Steve but 2:10 he says “I’m not an economist” and 2:33 he says “I’m an economist “ I find that funny
Good catch. That was ironic.
😂😂😂
He says that so he won’t be held accountable in a year from now
As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
"Carol Pasol Lewis". You can easily look her up, she has years of financiaI market experience.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.
For a successful long-term strategy you have to seek guidance from a broker or financial advisor.
With the help of an investing advisor, I diversified my $400K portfolio across markets, and I was able to earn over $900k in net profit from high dividend yielding equities, ETFs, and bonds.
@@arthurworld9768 Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
My consultant is Monica Amanda McClure She has since provide entry and exit points on the securities I focus on. You can look her up online if you care for supervision.
Becky and Joe have to stop interrupting their guests.
There's nothing 'scarier' than workers getting better wages and big corporations having slightly lower profits!
Oy vey!!!!
I don’t understand why deposits are $2 trillion above trend? Because people pulled money out of stock market? People’s savings are up from COVID?
And why does he think the $2T is coming out of the banks? Thanks.
Savings is down from the high. Its off the loes though.
How can he say banking is un-investable and then say no recession. If banks don’t lend bc they can’t, then goodbye. He’s compromised. Vinny, Danny and Porter are less biased than him
He is working retired; he doesn't really care any more
I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.
Considering that I am only three years away from retirement, it becomes challenging for me to solely concentrate on the long-term perspective. Despite having invested in reputable companies and having a significant amount of funds allocated, my profits have been stagnant. This situation raises the question: Does the current recession and unstable market offer any calculated risk opportunities for generating profits?
In a downturned market, numerous strategies exist that can potentially yield lucrative profits. However, executing such sophisticated trades requires the expertise of seasoned market professionals.
I have experienced significant losses, and I am holding on with the hope of recovering them. It is evident that I am in dire need of assistance. Could you please share the name of the investment adviser who guides you?
It seems that *STEPHANIE KOPP MEEKS* possesses extensive knowledge and a strong educational background. After conducting a Google search of her name, I discovered her website. Thank you for providing this information
@@Erikkurilla01y'all bots are hilarious. It's called invest into bonds 😂😂😂😂
should people buy bonds and notes if online banks are giving 4%-5.13% interest rates and you don't have to lock up your money.
How could he possibly tell the Truth 🤦♂️
Idk why in their right mind would think the Fed would cut rates anytime soon. Rates will be higher for longer, that is the new norm, and they will probably increase the rates more and don’t be shocked when mortgage rates are 8-9%.
They will have to cut rates when they brake the economy, money printers will turn ack on and the debt to GDP will continue to rise.
When CNBC tells you to panic I feel like theres gonna be a rally 😅
Yep , I should have never listened to the talking heads . Most of them pushed the soft landing . I should have went to cash and waited , my bad .
Where have you been? Stocks were on a 4 month run from March to July. It's still higher now than in March.
Maybe bc they were bullish
Inverted yield curve is undeniable evidence of a recession
This guy is good! He wants everyone in before the Big Short…
Bingo!
I remember running into this guy in front of Walgreens. It was awesome
6:25. Understatement of the century.
Bro took 7 minutes to say he believes in soft landing, he likes quality 5y corp bonds and that he doesn't like financials
Please also mention in the intro that he was in Big Short.
Not everyone knows that, especially newcomers.
did ANYONE- certainly doesn't seem so by the comments(!)-get the fact that the conversation about the banking sector was essentially cut out..and yet it is the clickbait title of the video? Kudos CNBC.. saying everything and nothing
Eisman's concerns about the banking sector are worth considering, but as someone earning 5.26% with Western Alliance Bank, I believe in diversifying my investments. Individual goals and circumstances matter. Stay informed and consult experts when needed.
Rates only go up so that they can go down. Higher for longer is adorable. A recession is coming and you better believe the easing cycle will begin again.
Data
0:30 - First quarter???!!
Is this video old?
Inverse yield curve and highest cc use in history?
I think the co hosts should ask Eisman for permission to speak. If they think they are intelligent enough to interrupt Steve while he is speaking he should decide if they should based if he thinks their point is important or not.
Helpful fellow
It amazes me that CNBC would listen to the 12th man on the team last to know, Steve Eisman.
Watch the Big Short again. This guy found out about the mortgage crises from a wrong phone number. And it took lots of hand holding and convincing before he got envoled. If youre going to listen to anyone about the markets it should be Dr. Michael Burry who created the instruments to short the mortgage markets. Not some Johnny come latetly Steve Eisman that Neuberger Berman gave a job to because of his pedigree or lack thereof.
longer for higher > higher for longer
At least he's honest enough to admit he doesn't have a clue
has a clue about no recession and nothing scary out there. seems very bullish.
Make-Believe Inflated Currency is uninvestable
Mark Baum looks different from the movie!
Bank issues for that whole? 😅
Not sure what numbers he's looking at, but the ones publicly available are screaming problems in the financial world. Think Roman Empire
8% mortgage rates used to be the norm if you had good credit.
USA has been spoiled with these near 0% rates. JS
tempering a strong economy to reduce inflation is a strange one man...
It means 2025-2026 before rates pull back
Crazy to think he can't see a recession at all in the data, when his former partners from "The Big Short" fame - Vinnie and Porter - have a lot more conviction around negative credit data and the potential of an oncoming recession. I guess that don't talk any more.
@@Elizabethadams712 does spamming comments on here actually work? haha
Maybe it is Disney doing the arbitration.
In the great depression of the 1970's, it was tough,, brother, can you spare a dime?
money can drive some people out of thier minds
I still blame the FEDs for this, because in the end they benefit by either buying off the failed banks cheaper or something. The fed can print credit as long as someone will borrow it into existence, but they cannot print product (or production).
People are going through real life crisis, think now isnt a time to point fingers. Everyone should always be prepared for the unexpected to happen. That is how randomness works.
You're right ! Now that the market is in decline, I know what I want to do, but I'm not sure which stocks to buy, which investmnts would yield the best profits, etc. The potential gain is greater due to the risk, and professionals are better at negotiating such exact contracts. Right
I find your situation fascinating. Would you be willing to suggest a trusted advisor you've worked with?
excellent share, just confirmed her page online after inputting her full name on my browser, she seems valid. very much appreciate it.
Goldman Sachs is always wrong every earnings season. Remmeber when they said almost 100% chance of recession earlier this year?
Amount of $$$ they printed.. Rate should be 12%.. not 5%
If prices are not raised to keep same ratio between wages and profits and costs, keeping commodities at same rate, yes could be a plunge in profits, only have to raise prices which is going to be nominal, there is no bottle necks anymore, so will be wages growing higher and profits it will mean an expansion of American economy, and that will also give more room and oxygen to current public debt because it will also make higher revenue, and is all growth and banks will also breath and also keeping hi the interest rates for that to be real not just nominal keeping real state low, so all new growth will be true economy not just bubble, is true growth it has to trigger a prices spiral keeping gas energy and all commodities same, prepared food or packed have to also raise prices to pay higher wages but over all higher profits also at same time to grow relative to the rest of the world being able to demand more also not by producing more but demanding more of share of production for the world like 200i China but the way around, and growing GDP real and nominal,
this market is not a coward
No, it's higher for longer even if a recession sets in. Unless you want hyperinflation, you can't drop rates significantly. This is the new baseline.
I don’t know if they will be able to hold their nerve. As soon as recession hits, they will panic and want to drop rates, which will bring a second wave of inflation roaring back. That’s what I think
I dig the humility 👌
There's an inverted yield curve. No evidence?
It’s disgusting that the anchor describes strikes and wage increases as “scary.” Heaven forbid the working class have their wages increase in concert with their productivity rate, inflation, and the “wages” (in the form of stock options) of the CEOs.
Its because you live in a bubble, were competing with workers across the world higher wages make us less competitive meaning less jobs
@@LiveWatched you lack an understanding of economic policies such as ones that prevent companies from moving manufacturing overseas (import taxes, import limits etc)
@@alext802 I mean ford literally has plants in Mexico so you're just wrong flat out, but I appreciate the advice
@@LiveWatchedit is exactly this type of thinking of yours that is the problem. Corporate executives pit workers against each other, playing on their fear of losing their jobs if they get higher wages. Meanwhile corporate executive salaries continue to skyrocket. These companies need to be regulated and penalized for screwing their workers. What you said is basically corporate propaganda.
@@LiveWatchedyes, the problem is unbridled free market capitalism that places investor returns and corporate profit margins about all else, views workers as commodities, and let’s corporations do whatever they want in pursuit of those.
no need for me to go deeper than the rising number of delinquent auto loans and credit card accounts.
Just look at the DXY, decade long impending cycles don’t lie.
Inflation is a monetary phenomenon. Fed pumped $5T since 2020 Covid. Most money is still in the economy. That is why real estate and other inflation took place . The problem us not current instantaneous inflation… it is about hi absolute prices. These asset, goods, services bubbles have to deflate. Money supply has to come down in addition to higher interest rates. Fed knows all this but dragging their toll they can’t. Then it hits the fan.
That guy is a joke
Stack Silver!
As he says, he's an 'economist '...and they're there to make weather forecasters look good.
Broken clock. He had ONE good call 15 years ago and is stuck working for the man rather than his own firm.
I love that rates are higher. I am debt free, and a HYSA account at $250K yields $1000 monthly!!! Finally, the bank is paying Me.
Good work. A lifetime of delayed gratification delivering for you. Congratulations.
What a jerk... Why did they bring him on? He literally has no opinion on anything... just lighting sparklers. As a finance pro jaded ppl like him are how we got in this position
"Hey, there's a bubble....time to call BS."
"Regulation that asks for more capital requirement is the wrong thing regulators are doing" then "the best bank regulator in history", fcking flipflop
I think he was being cheeky lol
i don’t any of these ppl have had real jobs haha
In 2000, my first mortgage was 8.25% for 30 yrs, which was normal. Years later refinanced lower rate. Years later refinanced lower and 15 years. Paid off 4 years ago.
8.25% of 200K and 6% of 1.3 mil is not the same
Rates were higher but the properties were valued less and the currency was worth a lot more. Boomers and gen X have no idea what it's like for millennials and Gen Z now. Housing makes up more of peoples pay checks than any other time the last 50 years.
I don't see what your point is are you saying that you faced completely opposite conditions then currently, because all that supports is fiscal policy wealth transfer from you to these other people who don't have those tailwinds helping them.
You took a high rate on a relatively lower price and then could refinance beneficially to help you pay it off faster. Today anyone that bought recently is facing high rates on a much higher price, and rates are not lowering very quickly to let them refinance and help. So they have a headwind.
The system is failing as a result of both government and federal policy. In the next days, the banking crisis would have to be epic and gigantic for the FED to decide not to raise interest rates. This won't happen; an increase and a crash are coming. There will be more negative portfolios this 2nd half of 2023 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
Very true, you can be passively involved in the markts and still amass wealth-gains using an investment advisor. I first dabbled in stocks late 2019, just before the pandemic, and that same year gained over 150% with no prior investing experience, basically all I was doing was following directions of my advisor. We are working on a retirement ballpark of $3m and I’m certain my goal isn’t farfetched after subsequent investments and tremendous returns so far.
@@ritalorrigan That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
My Financial adviser is ‘’DAWN MAUREEN HUMPHREY’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@@ritalorrigan Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon
It will set Labour rights back to the 30’s
banks are at 3 to 5 year low and dividends are at an all time high and he does not think banks are a buy??!! lolololol
Who the hell funds this show. Cnbc needs to go bankrupt already.
DO NOT TRUST ANYONE. Trust is dead.
Lolol they repeated over and over again. Rates are going up, and held there until 2% is achieved AND sustained. They literally repeated at every single meeting and interviews.
evercore?
that figures
This dude obviously don't want to talk, leave him alone.
Argentinian banks are investable
get your investment to 10 and up
This guy is full of it
Is he an economist or is he not an economist??? huh
Its going to be longer for higher!
mark baum himself
When you really look at Steve's career, he's really not that smart. Granted he made a good play on the GFC CMBS, but that was a one-off. You simply CANNOT ignore asset over-inflation and interest rates. Money, at its foundation, is not that complicated. It works one way and if you violate or ignore those fundamentals, you will get burned. Period. Just ask and or compare Steve with WB.
The market is out of control, and banks are failing one by one. Could there be any potential in the stock market for a boomer like me? I am working on an approximate estimate of $3M for retirement.
You should hire a CFP to help you diversify your assets to include ETFs/index funds/mutual funds and stocks of companies with consistent cash flows, rather than betting on penny stocks.
I needed a good boost to help my portfolio stay afloat, hence I researched for license advisors and came across someone of due diligence, she helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
I wouldn't mind consulting the advisor who guides you, I really want to grow my retirement fund since I could retire in 3 years.
I started out with an FA named *Sharon Louise Count* Her honest approach gives me complete ownership and control over my position, and her rates are incredibly affordable given my ROI.
I just googled her name and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.
FHN BOH ALLY
some good ones
Higher forever. Hope Wall Street starts to get it.
theres been a correction, economy is strong.
bottom feeder questions
Maybe
Uh oh…
Amazing how "out of touch" these people are....
We've been struggling to put food on the table, AND THERE'S NO RECESSION..
😂😂😂😂😂😂😂
Because a Resession has nothing to do with what you told us!Its about GDP!!!!!
? Wages are UP 5% this year and rising, inflation has dropped from 9% to 3%. What are you talking about? Unemployment is at a 50 year low. Go get a Job or 2 or 3.
Come to reality.
I’m not an economist, but every session is not coming…. He lost me with that one.
Great Recession
Some cheap stocks are still out there, Hershey, HP, C
Are you an economist or not? What waffle from this guy. The US has been in a recession all year! I suppose at least he got the Banks right.
Buy pokemon cards 🚀
What if the PPT actually stops backstopping most problems.
This guy is clueless. He doesn't want increased bank reserves.
Scammers Delight !!
Posted by the scammers who always list their fake financial advisors with their middle name as well as their marital status 😆😁
Ofcourse 2024 election year
i just want everybody busy and changing iam a adult now not 9 people like there stuf 9 and up