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Steve Eisman guarantees, 2017 will be the golden year for banks

Carlos Ferrer

The US hedge-fund manager, Steve Eisman who is nowadays famous thanks to the dramatic and biographical comedy movie “The Big Short,” which was brought to the big screen in 2015 and exposed the causes of the financial crisis since 2007 through 2010, affirmed it is about to start a golden era for banks with respect to the stock market.

Nevertheless of the fact that at that time their bets were against the risky mortgage products that had been designed by some of the best banks in the world, and having practically declared that they would be a double-edged sword for the financial system, today Seizes a much less pessimistic position with respect to the banking sector. Eisman also said that in the next years there will be a good opportunity to start the investments.

It’s because of the triumph of Trump the golden year is coming?

Steve Eisman owes its predecessor to the recent victory of US president-elect, Donald Trump, with whom he says a difficulty will occur in some of the financial regulations; despite opponents of his plan insist on the new regulations could hinder the profitability of large lenders.

Eisman said Monday for CNBC in New York that over the next two years there will be more leverage, and that it will be a golden age to invest in financial stocks. Regarding their statements, it is almost impossible to question them because of the rise in some of the investment banking and securities groups, as is the case of Goldman Sachs, whose shares increased 31% after the result of the presidential election In favor of Trump. Also, some of the most important market indices such as the S & P 500 and the Nasdaq Composite COMP have also recorded better rebounds.

- See more at: https://www.ag-markets.com/2016/12/steve-eisman-guarantees-2017-will-be-golden-year-banks/

Source: https://www.ag-markets.com
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