Big Short Lead Character Eisman Switches To Big Long On Banks

Amid banking turmoil in Italy, the man at the center of “The Big Short,” who notably warned against the Italian banking crisis, has been aggressively adding exposure to banks since the election of Donald Trump. The overweight to the banking sector is the first time Steve Eisman, now a senior portfolio manager at Neuberger Berman, has been positive on banks since 2008, he told the Financial Times.

After notably complaining about bank marked-to-the-market pricing of OTC derivatives, Eisman now advocates long bank exposure

Eisman gained fame and fortune for betting against subprime mortgages leading up to the 2008 financial crisis. Using over-the-counter traded derivatives while at Greenwich, CT-based...