Why Steve Eisman Is Shorting Canadian Tire

Aug.23 -- Steve Eisman, portfolio manager at Neuberger Berman Group, discusses Canadian bank earnings and explains his short of retailer Canadian Tire on BNN Bloomberg.

[Paraaronoid]

He must own the same frustrating Mastercraft drill or the rusted out socket set I have.

[kaygeebee]

Credit risk is turning real ugly throughout the world these days. I always thought it was going to be interest rate shock that would trigger issues, but the sheer growing size of debt, coupled with with recession and weak income growth over the last decade will trigger some nasty insolvency. Late eighties early nineties anyone?

[Nicolas-uujr]

Awesome questions, and awesome guest, awesome everything!

[joebaby]

Oh boy, when Steve has his biggest short positions on the European Banks ....it’s going to get ugly, just a matter of time....

[IamDoubleP]

That last statement is a dagger. Europe not looking good...

[samtohidi]

Haha I love the way he responds he should be President, Brilliant :D

[k.alipardhan]

Canadian Tire's Diluted EPS is 4.84 and Net profit margin is 7.43% (@ sept 2020). This is similar to Dec 2019, so what am I missing here?

Looks like Canadian Tire survived covid and returned to where it was. If Covid failed to collapse it, it must have been pretty solid

[Joe-jcol]

It's like eyeliner wearing a woman.

[thatguyinthathat.s]

You know what.... that Host... did a great fucking job. Good for her.

[Shyruban]

I've been shopping at Canadian Tire for well over 40 years, they used to be stores your could trust, it is no longer the case, they no longer care about customers, they keep selling products that have bad reviews for years and keep ripping off customers, I've been ripped off 3 times in the last 2 years. The last time, I bought a pair of what I thought were decent walking shoes and payed 90$ for them, I went through the soles in just a few months, there's tons of bad reviews for those shoes now yet CT keeps selling them. Naturally, you can't return shoes after you wear them for a few months. Those have very thin ''rubber' soles filled with very cheap foam inside, you end up going through the sole in no time, the shoes look almost bran new on the top and soles are gone. The only good reviews of those are from people that use them to do work in their yard, but if you walk anywhere on hard surfaces, they become garbage in no time. I've had similar problems with other products I bought there. I will no longer shop there, I boycott them now and tell everybody why. It's a disgrace, Yeah yeah, shop Keep your garbage CT.
P.S. I've also seen some product identical to some I see in cheap dollar store but sold for 5 or 6 times the price at CT.

[JessiesCards]

I'm short on grey poupon....anyone got some?

[WorldReserveCurrency]

Eisman why do you even bother? If you're going to be tight lipped just stay out of the the lime light and save us time.

[sov]

This guy shorted Tesla and Zillow a year ago - Steve left the chat

[ensarkaya]

this guys name must be "the shorter". he shorting every fucking stocks. jess

[shelde]

How's the Tesla short going there Steve eissman

[Hyperpandas]

Heard about Canadian Tire bucks; added them to his short of Canadian banks. :)

[Rflows]

Wow good call Steve!!! hope you covered nice on that 50% downside

[anythingwewant]

Accelerated commercial loans are backed by insurance paid out by the Canadian tax payer. This method is to show artificial strength in a time of weakness to keep the books looking bullish. Seen this show before

[ericparadis]

If I had a $1 of canadian tire money everytime someone chased me down the aisles offering me their credit card, I'd have enough for a pitcher of beer

[nickkkngv]

well.. nice ending. I'll have sweet dreams now. Thanks man.