Steve Eisman gets more conservative with portfolio as AI trade nears 'tipping point'
The noted investor, famous from "The Big Short," says it would be "impossible" for an AI crash not to hurt the broader market
TL;DR
- Steve Eisman is becoming more conservative in his portfolio regarding the AI trade.
- He believes AI companies are using fear to create regulatory moats and obscure weak fundamentals.
- Eisman points to Anthropic's IPO filing and Google's recent earnings report as potential warning signs.
- He describes betting against the AI trade as 'impossible' due to its interconnectedness with the overall market.
- Google's stock fell after reporting a pullback in its advertising business, partly due to AI queries impacting monetization.