Steve Eisman is known for having bet against the housing market prior to the Great Financial Crisis in a trade immortalized by Michael Lewis in The Big Short. So what is he betting on now? In a special live episode of Odd Lots, recorded at the Bloomberg Invest summit, the Neuberger Berman portfolio manager discusses the recent banking turmoil (he thinks it's contained), the boom in anything related to AI, and his current bets on US manufacturing and infrastructure. He also talks about investing in rewiring the nation's electricity grid and why he thinks this theme has years left to play out.

Steve Eisman is known for having bet against the housing market prior to the Great Financial Crisis in a trade immortalized by Michael Lewis in The Big Short. So what is he betting on now? In a special live episode of Odd Lots, recorded at the Bloomberg Invest summit, the Neuberger Berman portfolio manager discusses the recent banking turmoil (he thinks it's contained), the boom in anything related to AI, and his current bets on US manufacturing and infrastructure. He also talks about investing in rewiring the nation's electricity grid and why he thinks this theme has years left to play out.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Tuesday and Thursday for interviews with the most interesting minds in finance, economics and markets.

Odd Lots

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday, Thursday, and Friday.

On Bloomberg&rsquo;s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday, Thursday, and Friday.

Steve Eisman on Banks, AI and His Next Big Bet

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/333b5fa7-682d-4d8a-8215-b022014d50ca/transcript

It's possible that the war in Iran could reshape financial flows in significant ways. Perhaps the Gulf states will end up as less desirable places to do business. Perhaps Iran will have a tollbooth at the Strait of Hormuz. Perhaps this episode will accelerate the world's shift away from oil. It's impossible to say. But given the uncertainty, fresh questions are being raised about the existing financial world order, upon the top of which the US dollar sits. On this episode, we speak once again with Brad Setser, the Whitney Shepardson senior fellow at the Council on Foreign Relations. We discuss how the war is already creating new global imbalances, and the degree to which this episode parallels past energy shocks. We also talk about broader trends in reserve management, other factors driving financial flows, and the unique situation facing East Asia, which is seeing a surge in its energy import bills at the same time its making making a fortune selling chips for the AI boom.

Read more:
US Probes Suspicious Oil Trades Made Before Trump Pivots
China’s $51 Trillion Savings Help Bonds to Outperform During War

Only http://Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at  bloomberg.com/subscriptions/oddlots

Subscribe to the Odd Lots Newsletter
Join the conversation:discord.gg/oddlots

It's possible that the war in Iran could reshape financial flows in significant ways. Perhaps the Gulf states will end up as less desirable places to do business. Perhaps Iran will have a tollbooth at the Strait of Hormuz. Perhaps this episode will accelerate the world's shift away from oil. It's impossible to say. But given the uncertainty, fresh questions are being raised about the existing financial world order, upon the top of which the US dollar sits. On this episode, we speak once again with Brad Setser, the Whitney Shepardson senior fellow at the Council on Foreign Relations. We discuss how the war is already creating new global imbalances, and the degree to which this episode parallels past energy shocks. We also talk about broader trends in reserve management, other factors driving financial flows, and the unique situation facing East Asia, which is seeing a surge in its energy import bills at the same time its making making a fortune selling chips for the AI boom.
Read more: <a href="https://www.bloomberg.com/news/articles/2026-04-15/us-probes-suspicious-oil-trades-made-before-trump-iran-pivots?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article" data-prosemirror-content-type="mark" data-prosemirror-mark-name="link">US Probes Suspicious Oil Trades Made Before Trump Pivots</a> <a href="https://www.bloomberg.com/news/articles/2026-04-15/china-s-51-trillion-savings-help-bonds-to-outperform-during-war?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article" data-prosemirror-content-type="mark" data-prosemirror-mark-name="link">China&rsquo;s $51 Trillion Savings Help Bonds to Outperform During War</a>
Only <a href="http://Bloomberg.com" data-inline-card="" data-card-data="">http://Bloomberg.com</a> subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at&nbsp; <a href="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast" data-prosemirror-content-type="mark" data-prosemirror-mark-name="link">bloomberg.com/subscriptions/oddlots</a>
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Brad Setser on the War in Iran and the Future of the US Dollar

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/554c535f-c537-4dff-a5ae-b42d016661d4/transcript

The war in Iran has caused the price of all kinds of commodities to surge, and that has a negative economic impact almost everywhere. But the squeeze is really being felt hard in East Asia, which is the ultimate destination for a lot of oil and gas that come out of the Gulf. And though the Strait of Hormuz may eventually re-open, and the acute pain may pass, this episode may already be reshaping the future. On this episode of the podcast we speak with Alex Turnbull, an investor based in Singapore, and a researcher on energy topics with the Australian National University. He argues that the war will accelerate the region's appetite to restart nuclear power plants, ultimately lessening its dependence on imported natural gas. He also notes that per his channel checks, the region is already seeing a jump in demand for electric vehicles, with BYD dealers holding less and less inventory on hand.

Read more: US, Iran Seek More Ceasefire Talks as Blockade Stops Ships
There Are No Easy Exits From Iran for the US

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Join the conversation:discord.gg/oddlots

The war in Iran has caused the price of all kinds of commodities to surge, and that has a negative economic impact almost everywhere. But the squeeze is really being felt hard in East Asia, which is the ultimate destination for a lot of oil and gas that come out of the Gulf. And though the Strait of Hormuz may eventually re-open, and the acute pain may pass, this episode may already be reshaping the future. On this episode of the podcast we speak with Alex Turnbull, an investor based in Singapore, and a researcher on energy topics with the Australian National University. He argues that the war will accelerate the region's appetite to restart nuclear power plants, ultimately lessening its dependence on imported natural gas. He also notes that per his channel checks, the region is already seeing a jump in demand for electric vehicles, with BYD dealers holding less and less inventory on hand. Read more: <a href="https://www.bloomberg.com/news/articles/2026-04-14/us-iran-seek-more-ceasefire-talks-amid-hormuz-blockade?srnd=homepage-americas?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article">US, Iran Seek More Ceasefire Talks as Blockade Stops Ships</a> <a href="https://www.bloomberg.com/news/newsletters/2026-04-13/there-are-no-easy-exits-from-iran-for-the-us?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article">There Are No Easy Exits From Iran for the US</a>
<a href="http://bloomberg.com/subscriptions/oddlots">Subscribe to the Odd Lots Newsletter</a>
Join the conversation: <a href="https://discord.gg/oddlots">discord.gg/oddlots</a>

War in Iran Is Already Reshaping East Asia's Energy Future

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/0604c399-d1e3-4a1d-8bd3-b42c01471fca/transcript

It's fueling the A.I. bubble, it's coming to your retirement portfolio—and it's flashing a lot of warning signs right now.

In the wake of the 2008 financial crisis, private credit or “shadow banking” grew as an alternative to the regulations and shared risk that institutional banks operate within. What happens if a crisis hits the trillions of dollars that are outside of those guardrails? We may be about to find out. 

Guest: Tracy Alloway, co-host of Bloomberg's Odd Lots podcast.

https://slate.com/podcasts/what-next-tbd

It's fueling the A.I. bubble, it's coming to your retirement portfolio&mdash;and it's flashing a lot of warning signs right now. In the wake of the 2008 financial crisis, private credit or &ldquo;shadow banking&rdquo; grew as an alternative to the regulations and shared risk that institutional banks operate within. What happens if a crisis hits the trillions of dollars that are outside of those guardrails? We may be about to find out.&nbsp; Guest:&nbsp;<a href="https://www.bloombergmedia.com/talent/people/tracy-alloway/" data-destination="https://www.bloombergmedia.com/talent/people/tracy-alloway/">Tracy Alloway</a>, co-host of Bloomberg's Odd Lots podcast. https://slate.com/podcasts/what-next-tbd

Presenting What Next TBD: Why Everyone is Freaking out About Private Credit

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/70a89907-473d-48a7-a753-b42b01691276/transcript

Steve Eisman on Banks, AI and His Next Big Bet

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