Steve Eisman: beware Canada's property bubble

Steve Eisman, managing director of Neuberger Berman, is worried about Canada's housing bubble; gloomy on Deutsche Bank; and sceptical of cryptocurrencies.

896_MW_P14_strategy_guru

Steve Eisman,managing director of Neuberger Berman
(Image credit: © 2017 Bloomberg Finance LP)

Digital currencies have boomed for two reasons, neither of them sound foundations for future investment: speculation and money laundering. So says Steve Eisman, the Neuberger Berman money manager famous for betting against US subprime mortgages before the 2008 financial crisis, reports The Wall Street Journal. "What value does cryptocurrency actually add? No one's been able to answer that question for me," he told the audience at the annual CFA Institute conference in Hong Kong.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Alice grew up in Stockholm and studied at the University of the Arts London, where she gained a first-class BA in Journalism. She has written for several publications in Stockholm and London, and joined MoneyWeek in 2017.