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Steve Eisman Bio
Steve Eisman was born on July 8, 1962, and spent his formative years in New York City’s Yeshiva schools. He graduated with honours from the University of Pennsylvania in 1984.
then received an honours degree from Harvard Law School. His parents were brokers for Oppenheimer and were employed in the financial sector. Steve Eisman was dissatisfied with his legal work. His parents made arrangements for him to work as an equity analyst at Oppenheimer. His parents were compelled to cover the first year of his salary due to Oppenheimer’s anti-nepotism policies.
At FrontPoint Partners LLC, a division of Morgan Stanley with headquarters in Greenwich, Connecticut, Steve Eisman gained notoriety by placing bets against collateralized debt obligations. He rose to fame after being profiled by Michael Lewis in his book The Big Short: Inside the Doomsday Machine in 2010, when he handled more than $1 billion for FrontPoint. Steve Eisman’s name was altered to Mark Baum in the film adaptation of Michael Lewis’ novel, The Big Short, and actor Steve Carell played the role. After portfolio manager Chip Skowron looked into allegations of illicit insider trading, he departed FrontPoint Partners in 2011 amid investor withdrawals.
Neuberger Berman, Inc.
In Neuberger Berman’s Private Asset Management business, Steve Eisman joined the company as a managing director and portfolio manager for the Steve Eisman Group in September 2014. Elliott and Lillian Steven Eisman net worth, Steve’s parents, are among the partners in the company, which manages stock portfolios for affluent clients.
Personal life of Steve
Since 1989, he has been wed to Valerie Feigen. Marisa Tomei also played Valerie in The Big Short, but she went by the name Cynthia. Even on Wall Street, according to Feigen, a J.P. Morgan employee, “they believe he’s unpleasant, obnoxious, and confrontational.” Eisman appears to be aware of his propensity for rudeness, but he doesn’t appear to be bothered by it. He once replied, “I lose myself occasionally,” in response to a question about this.
Max, the first child of Steve Eisman, passed away after his night nurse slid on top of him while she slept. The loss of his kid, according to Eisman and his close friends, was a profoundly impactful event that changed him in numerous ways.
Steve Eisman Net Worth
Steve Eisman currently has a massive net worth of almost $1.5 billion. He attained such money as a result of his years spent in the financial sector. He is a shrewd businessman and investor.
The fight against for-profit universities
Steve Eisman expressed his concerns about the for-profit education sector at a presentation at the 2010 Ira Sohn Conference Investment Research Conference.
Steve Eisman compared the lending tactics of for-profit college operators including Apollo Education Group, Corinthian Colleges, Education Management Corporation, and ITT Educational Services to what he saw in the subprime mortgage sector during the housing bubble in his presentation.
“I used to believe that there would never be another chance to work in a field that was as ethically and socially corrupt as the subprime mortgage sector. I was mistaken. The for-profit education sector has demonstrated its suitability for the job.]
The for-profit sector replied by accusing Steve Eisman of seeking to improperly influence the government after the Department of Education moved to improve a number of consumer protection measures in 2009–2010. They also demanded an investigation. The charges come from a meeting that Steve Eisman held two weeks prior to giving his lecture at the Ira Sohn Conference with David Bergeron and Robert Shireman from the Department of Education. The department’s regulatory activities, which had started more than a year earlier, were overseen by Shireman.
After investigating, the agency’s Inspector General came to the conclusion that “Department personnel did not improperly disclose sensitive material in their discussions with outside parties.
Progressive organizations like Citizens for Responsibility and Ethics in Washington (CREW) criticized Steve Eisman after he testified before the Senate Health, Education, and Labor Committee about the issues with for-profit higher education on the grounds that he stood to gain from any proposed regulations given his short positions against private colleges.
Later it was discovered that CREW had taken money from the for-profit University of Phoenix’s founder.
Harris Miller, the head of the lobbying organization for for-profit universities, described him as follows: “Steve Eisman is a selfish nutcase who happened to be fortunate. He works to harm businesses’ reputations in order to profit when their stock prices fall.