Steve Eisman of 'The Big Short' fame is buying bonds 'for first time in a long time'. Says days of tech stocks beating market are over.

Steve Eisman, the former hedge fund portfolio manager who shot to fame after his bets against collateralized debt obligations were profiled by Michael Lewis in “The Big Short,” said Monday that he’s buying bonds “for the first time in a long time,” with a preference for short-term debt like 2-year Treasury notes.

2-year yields have risen since the start of February to 4.815% as of Monday, around their highest level since 2007. “I think the days of people beating the market just by investing in tech are going to be over. And we’re going to go to a new paradigm…I think the days of investing in companies that have no earnings that have multiples of 200x will be gone.”

By the time 2022 was over, the tech-heavy Nasdaq Composite COMP had plunged 33% as U.S. stocks suffered their worst year since 2008. The S&P 500, by comparison, was down 19.4%, per FactSet. But highly speculative tech names were even worse off: the ARK Innovation ETF ARKK , seen as a benchmark for this corner of the market, fell more than 66%.

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‘Big Short’ investor Steve Eisman says the easy days of buying tech stocks to beat the market are over'I think the days of people beating the market by just investing in tech are going to be over,' said Steve Eisman, senior portfolio manager at Neuberger Berman. Lol lol lol. 😂. All medias are sell panic and fear now while they are buying all. Small correction and Bullish. Take care whit this manipulators more value for creativity 😊 True
Source: CNBC - 🏆 12. / 72 Read more »