'Big Short' Eisman retracts his prediction of Trump victory
According to a Bloomberg report on September 20th, "Big Short" architect Steve Eisman stated that he "doesn't know" who will win the US presidential election - overturning his earlier prediction of a Trump victory - but he said that the market will perform well regardless, except in the case of a Democratic sweep.
Eisman said in a Bloomberg TV interview on Thursday: "I'm taking back my forecast," mentioning President Joe Biden's decision to withdraw from the election. In July, he had stated that Trump would win regardless of whether this scenario occurred.
Eisman said that if the Democrats win both the Senate and the House as well as the White House, the market will plummet in anticipation of higher taxes. However, if Harris takes the White House while the Democrats do not achieve a sweeping victory, then the market will be "just fine." Eisman reiterated that his portfolio is primarily focused on artificial intelligence, tech stocks, and the infrastructure sector.
