Eisman Says Recession Would Spur `Massive Losses' in Corporate Debt

The transcript covers a discussion with Steve about hedge fund performance, fee structures, and market conditions. It explores short positions, market volatility, and the impact of the tariff war. The conversation delves into the business model of Zillow and the risks associated with tech stocks like Tesla, Uber, and Lyft. It also examines Canadian banks, potential credit cycles, and the implications of the trade war on market risks. Finally, it addresses the safety of the financial system and potential recession risks, particularly in the bond markets.

What was the performance of hedge funds in 2018 compared to the market?

• They underperformed the market.

• They matched the market performance.

• They had no significant change.

• They outperformed the market.

What is the speaker's view on the future of fees in the hedge fund industry?

• Fees will fluctuate unpredictably.

• Fees will increase significantly.

• Fees will remain the same.

• Fees will likely decrease.

Why does the speaker find Zillow an interesting short?

• It is expanding its platform successfully.

• It is a stable and high-margin business.

• It is entering a capital-intensive, cyclical business.

• It has a strong market position.

What is the speaker's stance on shorting companies like Uber and Lyft?

• They are valued on traditional metrics.

• They are difficult to short due to non-traditional valuation.

• They are easy to evaluate and short.

• They are not worth considering for shorting.

What is the speaker's opinion on the current biggest risk on Wall Street?

• Technological disruption is the biggest risk.

• Corporate debt is the biggest risk.

• Interest rates are the biggest risk.

• The trade war is the biggest risk.

According to the speaker, where will the pain be felt in the next recession?

• In the technology sector.

• In the real estate markets.

• In the bond markets.

• In the stock markets.

What does the speaker believe about the safety of the financial system post-crisis?

• It is more vulnerable than before.

• It is safer than before.

• It is as risky as pre-crisis.

• It is unchanged in terms of safety.