PODCAST · business
The Real Eisman Playbook
by Steve Eisman
The Real Eisman Playbook is your front-row seat to the insights, strategies, and perspectives of legendary investor Steve Eisman. Best known for predicting the 2008 financial crisis, Steve brings his sharp analysis and no-nonsense approach to dissecting the markets, global economy, and investment trends shaping the future. Whether you’re a seasoned investor or just curious about how the financial world really works, The Eisman Playbook delivers the knowledge you need to stay ahead. Tune in for expert commentary, candid conversations, and actionable takeaways from one of Wall Street’s most influential minds.
Episodes
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Gary Marcus on AI Doomsday Fears, Hacking, & the Fight for Control | The Real Eisman Playbook Ep 79
On episode 79 of The Real Eisman Playbook, Steve Eisman sits down with AI critic Gary Marcus to unpack the growing fears surrounding artificial intelligence, from rogue AI agents and cybersecurity failures to predictions of human extinction. They examine whether these companies are amplifying...
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Q3 2026 Market Recap: Energy Up, Utilities Crushed, and Software Flipped | The Weekly Wrap
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman delivers a comprehensive Q3 2026 market breakdown. He discusses why energy was the best performing sector, why utilities got crushed, and why the SAASpocalypse...
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5% Rates, Bessent's Failed Gamble & What Comes Next w/ Krishna Guha | The Real Eisman Playbook Ep 78
On episode 78 of The Real Eisman Playbook, Steve Eisman sits down with Krishna Guha, Evercore's Fed watcher, to break down why the ten-year yield has marched from 4.5% to over 5%. He explains that it's a perfect storm of AI debt issuance crowding out Treasuries, war-driven oil prices, the massive...
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Why Private Equity's Software Bet Is Going to Zero | The Weekly Wrap
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman covers a dramatic week for FICO, in which its decades-long mortgage monopoly effectively broke. Steve then delivers a deep dive into private equity's...
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What the AI Boom Looks Like From Inside Cisco with Sam Badri | The Real Eisman Playbook Ep 77
On episode 77 of The Real Eisman Playbook, Steve Eisman sits down with Sam Badri, Head of Investor Relations at Cisco, for an inside look at what the AI boom actually looks like from within a major technology company. Sam explains why he believes we are still very early in AI adoption, with…
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The Enron-Era Tricks Are Back in AI: How These Companies Are Hiding Their Debt | The Weekly Wrap
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman discusses why the off-balance sheet financing techniques that caused Enron's collapse and amplified the GFC are back in full force in the AI world. He also...
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Stock Picking in Difficult Times with George Noble | The Real Eisman Playbook Ep 76
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 76 of The Real Eisman Playbook, Steve Eisman sits down with George Noble, former portfolio manager at Fidelity and now a Substack newsletter writer, for a wide-ranging conversation covering Scott...
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Why Dario Amodei and Sam Altman Are Faking the AI Doomsday Crisis | The Weekly Wrap
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman explains why the recent extinction warnings from Dario Amodei and Sam Altman are not genuine concerns about superintelligence, but rather a deliberate shell…
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The Big Short Partners Reunite: Rates, AI, Gold and Two Stock Picks | The Real Eisman Playbook Ep 75
On episode 75 of The Real Eisman Playbook, Steve Eisman sits down with his former Big Short partners Vincent Daniel and Porter Collins for a wide-ranging conversation covering the bond market, Scott Bessent's Treasury buyback program, the OpenAI risk, gold, and more. They also pull back the…
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AI Terminator Fears Grow & Rates Breach 4.9% | The Weekly Wrap
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman breaks down the ten-year yield breaching 4.9%, the recent AI doomsday fears, OpenAI's surprise price cut on its latest model, Oracle's strong 30% revenue…
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P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 74 of The Real Eisman Playbook, Steve Eisman sits down with Ryan Tunis, property and casualty insurance analyst at Cantor, for a comprehensive deep dive into personal lines, commercial lines,...
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Is OpenAI the Achilles’ Heel of the US Economy? | The Weekly Wrap
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman breaks down the economy’s growing dependence on AI spending. He explains why OpenAI could be the Achilles’ heel of the AI trade, and what its potential failure...
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The AI Trade, Rising Rates, and Why the Market Is Still Standing | The Real Eisman Playbook Ep 73
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 73 of The Real Eisman Playbook, Steve Eisman sits down with Jason Trennert & Chris Verrone from Strategas for a wide-ranging mid-year reality check on a tumultuous 2026. They cover the AI capex...
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AI’s Achilles’ Heel: Why Everything Hinges on Anthropic & OpenAI | The Weekly Wrap
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com On this episode of The Weekly Wrap, Steve Eisman examines the biggest risks facing the AI boom, with a focus on Anthropic and OpenAI and their growing importance to the hyperscalers. He also discusses…
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Private Credit's Clock is Ticking w/ Glenn Schorr & Ken Worthington | The Real Eisman Playbook Ep 72
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 72 of The Real Eisman Playbook, Steve Eisman sits down with Glenn Schorr of Evercore and Ken Worthington of JP Morgan for a sweeping deep dive into the ticking time bomb in private credit software...
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SpaceX Disappoints, AI's Free Cash Flow Shrinks, Meta Struggles | The Weekly Wrap
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman breaks down the week in markets, including SpaceX's highly anticipated earnings, the growing impact of AI spending on free cash flow, and why Meta continues to...
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250 Years of American Capitalism: Hamilton, the GFC, & the AI Boom | The Real Eisman Playbook Ep 71
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 71 of The Real Eisman Playbook, Steve Eisman sits down with Adrian Wooldridge, journalist and co-author of Capitalism in America with Alan Greenspan, to mark the 250th anniversary of American...
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The AI Debate Gets More Complicated: Microsoft Has a Win, Meta Stumbles | The Weekly Wrap
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman covers a massive earnings week headlined by Microsoft posting 30% EPS growth while Meta saw EPS fall 13%. Steve also covers results from Visa, Quanta, Bloom...
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The AI Revolution: Who Wins, Who Loses & the SaaSpocalypse | The Real Eisman Playbook Ep 70
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 70 of The Real Eisman Playbook, Steve Eisman sits down with Dan Ives and Gil Luria for a wide-ranging debate on the most important question in markets right now: has the AI trade fundamentally...
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Google's Negative Cash Flow and the AI Capex Reckoning | The Weekly Wrap
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman covers a pivotal week in markets. Google raised its AI capex to $205 billion, posted negative free cash flow, and saw its stock fall 7%, while Tesla was also...
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AI Has a Power Problem: Why the U.S. Power Grid Can't Keep Up | The Real Eisman Playbook Ep 69
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 69 of The Real Eisman Playbook, Steve Eisman sits down with Ben Callo, sustainable energy and mobility analyst at Baird, to explore what may be the most important and least understood constraint on...
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Bank Earnings Just Gave the Market a Much Needed Confidence Boost | The Weekly Wrap
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On this episode of The Weekly Wrap, Steve Eisman breaks down a strong start to the bank earnings season, with JPMorgan, Goldman Sachs, Morgan Stanley, Wells Fargo, and Citigroup all reporting results that…
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AI Dominates Economy and Markets with Torsten Slok | The Real Eisman Playbook Ep 68
Sign up for The Real Eisman Playbook Premium at https://realeismanplaybook.substack.com/ On episode 68 of The Real Eisman Playbook, Steve Eisman sits down with Torsten Slok, Chief Economist at Apollo, to break down just how dependent the U.S. economy has become on AI. Torsten walks through the...
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Why the Entire Market Is Now a Single Bet on AI | The Weekly Wrap
On this episode of The Weekly Wrap, Steve Eisman makes the case that diversification in today's market is largely an illusion and that the entire market has effectively become a single bet on AI. Steve also covers the collapse of Circle and Nike's uninspiring quarter. He also closes with two...
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Who Wins the Midterms & What It Means for Markets with Dan Clifton | The Real Eisman Playbook Ep 67
On episode 67 of The Real Eisman Playbook, Steve Eisman brings back recurring guest Dan Clifton, political analyst at Strategas, to break down the 2026 midterm landscape. Dan also shares his take on the 2028 presidential race, explains why Kevin Warsh's real agenda is shrinking the Fed's $6...
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The Market's Biggest Warning Signs Right Now with Todd Sohn | The Real Eisman Playbook Ep 66
On episode 66 of The Real Eisman Playbook, Steve Eisman sits down with Todd Sohn, Chief Chartist at Strategas, for a deep dive into what the charts and ETF flows are revealing about this market. Todd walks through individual stock charts for Nvidia, Meta, Microsoft, Amazon, Google, GE Vernova…
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The Q2 2026 Report Card: Who Won, Who Lost, and Why | The Weekly Wrap
On this episode of The Weekly Wrap, Steve Eisman delivers his second quarter market review, breaking down why semiconductors like Micron and Sandisk surged over 200% while software stocks got crushed, and why the hyperscalers are losing investor confidence. Steve also covers SpaceX's wild...
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The Real State of the American Consumer w/ Three Evercore Analysts | The Real Eisman Playbook Ep 65
On episode 65 of The Real Eisman Playbook, Steve Eisman sits down with three Evercore consumer analysts (Michael Binetti, David Palmer, and Greg Melich) for a sweeping deep dive into the health of the American consumer across restaurants, retail, food companies, and big box stores. They also dig...
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Anthropic Gets Shut Down By the Government and the AI Story Gets More Complicated | The Weekly Wrap
On this episode of The Weekly Wrap, Steve Eisman breaks down the explosive SpaceX IPO, growing concerns around AI economics, and the emerging bull and bear cases for the AI sector. He also examines the Iran situation, private credit stress, and Anthropic's setback with the U.S. government. Plus,...
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Is Private Equity Destroying the Life Insurance Industry? | The Real Eisman Playbook Ep 64
On episode 64 of The Real Eisman Playbook, Steve Eisman brings in Tom Gallagher, life insurance analyst at Evercore, to offer a second opinion on the controversial role private equity is playing in the life insurance sector. Tom walks through the history of private equity's entrance into life...
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Google Raises $85 Billion and the Market Finally Wakes Up | The Weekly Wrap
On this episode of The Weekly Wrap, Steve Eisman breaks down the recent market correction, rising inflation, and why AI may be transforming tech from a capital-light industry into one that requires trillions in ongoing investment. He also examines major developments involving Google, OpenAI,...
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The AI Semiconductor Boom and What Could End It with Stacy Rasgon | The Real Eisman Playbook Ep 63
On episode 63 of The Real Eisman Playbook, Steve Eisman sits down with Stacy Rasgon, semiconductor analyst at Bernstein, to break down the AI semiconductor boom that has sent the sector up 60% year to date. They explain who is winning, who is playing catch-up, and they close with the most…
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SpaceX's Exploding Capex, AI Addiction Lawsuits, and the Reality of "TokenMaxxing" | The Weekly Wrap
On this episode of The Weekly Wrap, Steve Eisman revisits his SpaceX analysis and explains why he's skeptical about the company's valuation. He also covers Microsoft's move to token-based pricing for GitHub Copilot, addiction lawsuits against OpenAI, Nvidia's entrance into the PC market, and why...
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Is AI a Bubble? Gary Marcus on What Could Break the Story | The Real Eisman Playbook Ep 62
On episode 62 of The Real Eisman Playbook, Steve Eisman opens with a sweeping overview of the entire AI landscape before sitting down with Gary Marcus to discuss the issues surrounding the industry. Gary breaks down why LLMs hallucinate, why scaling is no longer driving progress the way it used…
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The SpaceX IPO: Science Fiction or Serious Investment? | The Weekly Wrap
On this episode of The Weekly Wrap, Steve Eisman breaks down the SpaceX IPO, how Nasdaq changed its own rules to fast-track SpaceX into indices, and why Elon Musk is reserving 30% of the offering for retail investors. He also covers Salesforce's mixed quarter and Dell's explosive 39% revenue...
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How Silicon Valley Took Over the Defense Industry with Peter Arment | The Real Eisman Playbook Ep 61
On episode 61 of The Real Eisman Playbook, Steve Eisman sits down with Peter Arment, aerospace and defense analyst at Baird, to break down how Silicon Valley's $66 billion bet on defense tech is disrupting the industry and why defense stocks are selling off during an active war. Peter makes the...
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Walmart & Target Signal Consumer Stress as the 10-Year Yield Hits 4.6% | The Weekly Wrap
Sign up for The Real Eisman Playbook Premium at https://premium.realeismanplaybook.com/ On this episode of The Weekly Wrap, Steve Eisman breaks down a week full of warning signs from disappointing results at Walmart and Target to the Ten Year Treasury yield hitting 4.6%. He also covers NVIDIA's...
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Why Energy Stocks Are Down When They Should Be Up with Bob Brackett | The Real Eisman Playbook Ep 60
On episode 60 of The Real Eisman Playbook, Steve Eisman sits down with Bob Brackett, the energy and mining analyst at Bernstein, to break down the energy landscape and discuss why energy stocks are down even as oil sits near $100 a barrel in the wake of the Iran war. Bob also explains where the...
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Why this Market “Melt-Up” is Making Me Nervous | The Weekly Wrap
On this episode of The Weekly Wrap, Steve Eisman explains why the market’s recent “melt-up” is starting to feel frothy as AI stocks surge and defensive sectors continue to shrink inside the S&P 500. Steve breaks down rising inflation concerns, the growing risks in private credit, and key earnings...
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FICO’s Monopoly is Fading & Consumers Are the Winners w/ Kelsey Zhu | The Real Eisman Playbook Ep 59
On episode 59 of The Real Eisman Playbook, Steve Eisman sits down with Kelsey Zhu of Autonomous to discuss the collapse of FICO's decades-long monopoly on credit scores and what it means for homebuyers, lenders, and investors. Kelsey breaks down how FICO raised its mortgage score pricing from 60...
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S&P Hits New Highs as Tech Earnings Crush Recession Fears | The Weekly Wrap
On this episode of The Weekly Wrap, Steve Eisman breaks down why strong earnings, surging AI investment, and dominant tech leadership continue to push the market higher despite ongoing concerns about consumer weakness, war in Iran, and elevated valuations. Steve analyzes the latest results from...
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Is a Market Melt-Up Coming? Why Tech & Semis Are Dominating Again | The Real Eisman Playbook Ep 58
On episode 58 of The Real Eisman Playbook, Steve Eisman sits down with Chris Verrone and Todd Sohn of Strategas to break down what the charts are really saying about this market in the aftermath of the Iran war swoon and rapid recovery. They discuss why semis, AI, banks, and power have come…
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Earnings Keep the Market Strong Despite Signs of Consumer Weakness | The Weekly Wrap
Visit https://realeismanplaybook.com/ to sign up for our mailing list. On this episode of The Weekly Wrap, Steve Eisman breaks down a massive week of earnings and why strong results continue to push markets higher despite signs of weakness in the consumer. He explores the growing impact of...
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Apollo's Private Credit Exposure: Chris Edson Weighs In | The Real Eisman Playbook Ep 57
Visit https://realeismanplaybook.com/ to sign up for our mailing list. On episode 57 of The Real Eisman Playbook, Steve Eisman sits down with Chris Edson, partner and global head of origination at Apollo, to get a firsthand look at what's going on inside one of the world's largest private credit...
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Is a Recession Coming? What 100+ Companies Are Telling Us | The Weekly Wrap
On this episode of The Weekly Wrap, Steve Eisman digs into one of the biggest earnings weeks of the year, covering over a hundred companies across industrials, software, healthcare, and homebuilders to answer the question everyone is asking: is a recession on the horizon? He also flags a major...
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Market Patterns Work and Jeffrey Hirsch Explains Why | The Real Eisman Playbook Ep 56
On episode 56 of The Real Eisman Playbook, Steve Eisman sits down with Jeffrey Hirsch, author of the annual Stock Trader's Almanac. The two walk through the most important recurring patterns in the market while also discussing which patterns have stopped working, why Bitcoin has been a seasonal...
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Bank Earnings Are In: Here’s What They’re REALLY Saying About the U.S. Economy | The Weekly Wrap
On this episode of The Weekly Wrap, Steve Eisman breaks down what the latest bank earnings reveal about the true state of the U.S. economy. He also covers rising geopolitical tensions with Iran, market reactions, and what it all means for investors. Plus, he answers viewer questions on private...
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John Spencer on What the Headlines Get Wrong About the Iran War | The Real Eisman Playbook Ep 55
On episode 55 of The Real Eisman Playbook, Steve Eisman sits down with retired U.S. Army officer John Spencer to discuss what is actually happening in the Iran war. John breaks down the four official objectives of the United States and also explores the broader geopolitical implications of the…
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Catching a Falling Knife: The Truth About Software Stocks Today | The Real Eisman Playbook Ep 54
On episode 54 of The Real Eisman Playbook, Steve Eisman sits down with Rob Oliver, software analyst at Baird, to break down why the software sector has been obliterated over the past year. Rob shares which companies he believes have the moat and innovation culture to make it through to the other...
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Q1 Market Recap: How Private Credit, AI, & War Have Dominated 2026 So Far | The Weekly Wrap
On this episode of The Weekly Wrap, Steve Eisman breaks down everything that moved markets in Q1 2026 and examines how all sectors performed during the quarter. He also discusses the latest on the ceasefire in Iran, provides updates on private credit/private equity, and answers some mailbag...
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ABOUT THIS SHOW
The Real Eisman Playbook is your front-row seat to the insights, strategies, and perspectives of legendary investor Steve Eisman. Best known for predicting the 2008 financial crisis, Steve brings his sharp analysis and no-nonsense approach to dissecting the markets, global economy, and investment trends shaping the future. Whether you’re a seasoned investor or just curious about how the financial world really works, The Eisman Playbook delivers the knowledge you need to stay ahead. Tune in for expert commentary, candid conversations, and actionable takeaways from one of Wall Street’s most influential minds.
HOSTED BY
Steve Eisman
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Frequently Asked Questions
How many episodes does The Real Eisman Playbook have?
The Real Eisman Playbook currently has 137 episodes available on PodParley. New episodes are automatically indexed when they're published to the podcast feed.
What is The Real Eisman Playbook about?
The Real Eisman Playbook is your front-row seat to the insights, strategies, and perspectives of legendary investor Steve Eisman. Best known for predicting the 2008 financial crisis, Steve brings his sharp analysis and no-nonsense approach to dissecting the markets, global economy, and investment...
How often does The Real Eisman Playbook release new episodes?
The Real Eisman Playbook publishes regularly with 137 episodes available. Check the episode list for the typical release schedule.
Where can I listen to The Real Eisman Playbook?
You can listen to The Real Eisman Playbook on PodParley by clicking any episode. We provide an embedded audio player for direct listening, and you can also subscribe via your preferred podcast app using the RSS feed.
Who hosts The Real Eisman Playbook?
The Real Eisman Playbook is created and hosted by Steve Eisman.
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