Storied hedge-fund manager Paul Tudor Jones is the latest to warn of a looming recession as he urges investors to be wary of stocks.
Eisman is another Wall Street legend, earning his stripes making lucrative bets against the U.S. housing market just before the 2008 collapse and global financial crisis. He got an extra shot at fame after being depicted by Steve Carell in the 2015 hit, “The Big Short,” based on the same-name Michael Lewis book about those bets.
Eisman said he wouldn’t own home builders right now. The SPDR S&P Homebuilders ETF XHB is up 27% this year, though down 9% from its late July peak. On that note, Eisman said “everyone should have a little humility at this point” about predicting recessions, noting lots of people have been wrong. The data currently shows no recession and so now investors just need to wait for that data point to say what is happening. he says.