Famed hedge fund investor Steve Eisman, famous for predicting the 2008 financial crisis, now appears to be two-for-two.
In an exclusive interview with Daily Mail, hours before President Donald Trump announced a pause on new global tariff hikes, Eisman said he expected ‘cooler heads to prevail’.
At least for the time being, they have.
On Wednesday, shortly after harsh ‘reciprocal tariffs’ hit dozens of US trade partners, Trump reduced rates to 10 percent for a period of 90 days to allow for negotiations.
The Dow Jones Industrial Average surged nearly 8 percent on the news. The Nasdaq surged 12 percent and the S&P had its best day since 2008.
Speaking to Daily Mail following the historic rebound in US equities, Eisman was nonplussed – and reluctant to blow his own horn.
‘There’s two possibilities,’ said Eisman of Trump’s surprise shift. ‘He saw the stock market was going down, so he decided to back off. Or he, basically, gave everybody a preview of what he’s capable of and now he’s going to sit down in a more relaxed environment and negotiate. Maybe, it’s a combination of the two.’
Now, Eisman, host of the podcast The Eisman Playbook, tells the Daily Mail that – to him – the way forward for America’s trading partners is clear. They should come to Washington
https://www.dailymail.co.uk/yourmoney/article-14589813/Big-Short-investor-STEVE-EISMAN-tariffs.html