Steve Eisman: Making History In 2008 Market Collapse

When it comes to Financial Wizards, Steve Eisman's name is above all. He was made famous by his role in the bestselling book by Michael Lewis, The Big Shot, and its movie adaptation.

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Net Worth of Steve Eisman

Steve continues to remain active in the financial industry after the events of the ‘Big Short’. He joined an asset management firm, Neuberger Berman, and manages hedge funds as a managing director, which further increases his wealth. As of 2023, Steve Eisman, the well-known American businessman has a net worth of over $1.5 billion.

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The Early Years

Steve Eisman was born in 1962. He grew up in a middle-class family on New York Street. He was raised by his parents Elliot Eisman and Lillian. Both parents belong to the world of finance and work as Oppenheimer brokers. Steve attended Yeshiva for schooling and earned his bachelor’s degree in Latin in 1984 after which he got into law school for a law degree. He married a well-known American actress; Valerie Feigen and they have been together for more than 29 years

He began his career in finance after graduating from the University of Pennsylvania’s Wharton School of Business.  After that, he graduated from Harvard Law School. His early years mark the proof of hard work and determination which pushed him to climb various financial institutes. Eventually, his skills led him to the financial markets and his analytical skills set him up for successfully building a multi-dollar empire and becoming a prominent American investor and businessman

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The Big Short and Fame

After his studies, FrontPoint Partners hired him. He quickly rose his rank in the unit of Morgan Stanley and a betting agency as a collateralized debt obligation team. Steve even increased the company valuation to over $1 million in 2010, making it a global brand.

Steve became known to the world due to the publication of Michael Lewis in 2010. The book chronicled the events leading to the 2008 financial crisis. The book highlights Steve as one of the central figures who forecasted the bet against the subprime mortgage market. The film adaptation further highlighted him in this spotlight with actor Steve Carell playing him on screen.

In the movie, his name was altered to Mark  Baum. The film won the Best Adapted Screenplay award and was nominated for five academic awards in 2011, Steve quit the firm and founded Emrys Partners with an investment of $23 million. He shut down the firm in 2014 and joined Neuberger Berman as a managing director.

The Financial Whiz

If you think that the success of Steve in predicting the housing market collapse was luck, then you are wrong. The prediction was the result of years of meticulous research and analysis. Along with this, his extraordinary ability to identify the flaws of the market and bet against it earned him huge respect in the world of finance. And eventually, Steve's story became an inspiration for analysis and investors.