Big Short's Steve Eisman Says He Covered Tesla Short `A While Ago'

Feb.05 -- Steve Eisman, senior portfolio manager at Eisman Group Neuberger Berman, discusses his view on auto stocks, including Tesla Inc. and General Motors. Co., in a conversation on "Bloomberg Surveillance."

[sharinglungs]

“There’s no glory in losing money”. I appreciate he went on tv and admitted when he got a call wrong.

[peter]

Covered it a while ago, a.k.a yesterday when it hit through $900

[pjazzy]

"Electronic cars" this guy has no clue

[Sojourner]

Markets can often be irrational longer than you can stay solvent.

[Tiger-ukxd]

The tone of his voice sounds like someone who just lost millions of dollars lol he's like the guy who invested in blockbuster when Netflix was coming out..🤣

[SejalPatelDrSej]

“The two leaders of autonomous driving today are not Tesla, they are google and GM” 😂

[ProphetC]

Here is this guy again: "electronic vehicles". ICE cars have been electronic vehicles for a very long time. Electric vehicles mean powered by electricity.

[rickcobia]

"Mommy make the dumb man go away!" GM is already making an EV. Nobody is buying it and they build it for a loss. How is that competition? Tesla bears never use facts. Making analog cars is NOT the same as making digital cars. Just ask Motorola and Nokia about making smart phones.

[stevema]

when Tesla is down, short sellers are starting to appear on TV.

[anthonysmithtube]

Oh dear. He clearly didn't do his research on this sector. He's not into it at all. He's a pure maths guy. It worked for credit default swaps but not this. Electronic cars indeed 😂😂😂

[Peek]

I like that he once said that he shorted Tesla because it is a cult. Now he walked away, because it's a cult.

That doesn't make cult, sorry, sense, Steve.

[mactastic]

Remember when General Motors filed for bankruptcy? Has Tesla filed for bankruptcy? I don't think so.

[onee]

It is pretty "easy". When markets do well and a stock is hyped, people don't care about profits, they care more about sales, because sales equals "potential future profits". This is why Tesla went parabolic. What he did is like shorting Apple (Apple is doing better financially than Tesla, but there is a huge hype around that stock as well). Any stocks that is considered "the next big thing" will often go parabolic even if they have no profits yet.

[pepe.sanchez]

"The two leaders apparently autonomous driving today are not Tesla, are Google and GM"... How does he even think this? Google has 10-20 million autonomous miles driven whereas Tesla has over 2 billion.

[vladislavbashev]

Lol Google and GM are bigger on autonomous than Tesla.. This guy is delusional.

[obijuan]

For those of you who don't know Eisman is a billionaire primarily for shorting the 2008 crash. If you're a stock trader and you say that you are 100% correct since 2008, you are also a liar. Lots of people shorted Tesla. That doesn't make them idiots as long as they covered their loss in time. IMO, GM sells mostly junk, Ford has generations of electrical issues, I'm not sure how Ford will do in an all electric market. HOWEVER, the thing that could push GM or Ford to be a real competitor is service centers. If GM or Ford can create a electric competitor to Tesla, their advantage is that they have a network to sell and service cars and train technicians... that is Tesla's weakness. Tesla doesn't have many service centers and 10 states ban Tesla from having sales and 3 states don't allow service centers.
It would be dumb to say GM or Ford is out of the electric car game... just yet.

[Alexzw]

The other companies are going to catch up....
OK Boomer

[harrychu]

Between Steve Eisman and Ron Baron, I am going to listen to Ron Barron every time. Not selling a single share.

[Handlethis]

I would be surprised if this guy knew how to spell Tesla. He obviously hasn’t bothered doing his homework.

[jeffcann]

Are they gonna make a movie about his Tesla ass kicking ?? 😂😂😂