Steve Eisman is a man known by many people who can keep up with any other thing other than keeping track of what Hollywood celebrities are doing every weekend. Everyone who loves to keep track of their favourite big time business men must surely know this guy. He is famously known because of the subprime mortgages because he would always bet against them. As a business man and an investor, he has done very well in establishing himself and making himself rich over time.
Steve Eisman Early Life
Steve Eisman was born in the year 1962 on July. He lived and grew up in New York City. He is a product of Yeshiva schools, and after high school, he enrolled in an undergraduate program at the University of Pennsylvania. He later graduated in the year 1984. Afterward, he enrolled in Harvard Law School where he had successful studies and graduated with Honors. After all these studies, there is nothing that would have been impossible for him, and that is why we are writing about him today as a millionaire and worth everyone’s attention.
The very first time that people took notice of this great business man and investor was when he placed a bet against the subprime mortgages as mentioned earlier. This was at Greenwich, FrontPoint Partners LLC that was Connecticut-based. This saw to it that he had the chance to manage around $1 billion for the same company. After this rise, Michael Lewis got stricken by his greatness and profiled him in a book that he called ‘The Big Shot: Inside the Doomsday Machine.’ In the year 2011, he left FrontPoint Partners after the investors started to pull out their investments following accusations of trading the company’s information by a co-manager called Joseph F. This was not good for businesses and his departure was inevitable.
The other significant thing you can know Steve for during these times is that he opposed for-profit colleges. This led to a lot of controversies as many claimed that he did this because he wanted to make a profit out of the regulations that were to be made. This made him look like a selfish person looking out for his interest in as much as he had great points to support his arguments.
Later on in the year 2012, Steve Eisman formed the Emrys Partners. He used around $23 million to see that this project is established. However, he dissolved it in the year 2014 following claims that the investment policy that worked back then was not working anymore to bring in the money it should. At that time, the investment philosophy was that one was to make investments by primarily looking at the fundamentals that make a company. This was no longer working, and the company was performing very poorly in the market. Even so, while it was dissolved, there was a total of $185 million in assets that was being controlled by the fund.
Steve Eisman Net Worth
Currently, Steve Eisman has his hedge fund, a business practice that he learned from his parents. As of 2017 his net worth is $1.55 billion US dollars estimated.
With all the experience he is getting when dealing with financial matters, you can be sure that he is getting better and better by the day. Another thing that shows he is not broke is the fact that he can afford the good things in life and his family is doing amazingly great.