Steve Eisman, the hedge fund manager famous for betting against the US housing market in 2008, is sounding the alarm on the Canadian market.
Jaap Buitendijk/Paramount
Eisman, a portfolio manager at Neuberger Berman, was played by Steve Carell in the movie"The Big Short" and is now targeting Canadian banks. Steve Eisman, the hedge-fund manager famous for betting against the US housing market ahead of the 2008 crash, is sounding the alarm on the Canadian market.with the Financial Times, Eisman said:"I'm calling for a simple normalization of credit that hasn't happened in 20 years." He didn't indicate the size of his positions or the names of the banks he was targeting.
Short sellers have targeted banks such as TD Bank and Royal Bank of Canada in recent months, with property prices now outstripping wages in Canada following years of low interest rates and lax foreign ownership rules, the FT said.
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