Steve Eisman Quotes

I invested in many companies, and I'm happy this one worked. This is capitalism. You invest in stock, it goes up, it goes down. You know, if you don't like capitalism, you don't like making money with stock, move to Cuba or China.

Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.

More and more investors may be coming into markets everywhere but that doesn't mean that the markets are really getting more and more efficient, even in the United States. It does mean that there is more access for savvy investors who watch the money flows.

The trouble is that the average trader on Wall Street, he or she is so young, he doesn't even remember the recession of 2001, let alone the previous one.

I could never gamble on stocks and shares because I saw my father get hurt that way - he lost quite a lot of money when the stock market collapsed in 2001.

I think the value of venues like CNBC is that they give investors an opportunity to reevaluate the situation minute by minute, but maybe we don't need to follow the market so closely.

Predicting the market is always tough.

There's still a lot of investors wondering what to invest in. And, of course, I think entertainment looks attractive when you read the few films that make these insane amounts of money. What they don't know is they don't always do that.

I pay almost no attention to the charts.

Investors need to get rewarded for their investment, especially in unstable countries.

Wall Street has become a veritable casino.

The starting point of my career in money management in 1973-74 was the time of the only true bear market any living non-Japanese investor has seen in major markets. Equities, real estate, you name it, everyone got run over.

In questioning initially whether I am a great investor, I open the door to question whether other similarly esteemed public icons like Bill Miller are as well. It seems, perhaps, that the longer and longer you keep at it in this business the more and more time you have to expose your Achilles heel - wherever and whatever that might be.

Wall Street is always too biased toward short-term profitability and biased against long-term growth.

Speculation is only a word covering the making of money out of the manipulation of prices, instead of supplying goods and services.

Bulls don't read. Bears read financial history. As markets fall to bits, the bears dust off the Dutch tulip mania of 1637, the Banque Royale of 1719-20, the railway speculation of the 1840s, the great crash of 1929.

Do we have to regulate derivatives? Yes, we do. 'Cause when I did this in my investments, frankly, no one knew who could pay who. But derivatives have an important place in our economy.

To be sure, if you watch CNBC all day long you'll pick up some interesting news about particular companies and the economy as a whole. Unfortunately, to get to the useful information, you have to wade through reams of useless stuff, with little guidance on how to distinguish between the two.

The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market.

When good news about the market hits the front page of the New York Times, sell.

I heard that you did not have a judge to interview this month in the Bulletin, so I thought I'd help out. Besides, with the Stock Market tanking recently, it reminded me of the good old days.

The stock prices of networking equipment companies like Cisco Systems and Nortel Networks sometimes seem as if they are priced for perpetual success.

Maybe we should teach schoolchildren probability theory and investment risk management.

A second reason why science cannot replace judgement is the behavior of financial markets.

A financial crisis is a great time for professional investors and a horrible time for average ones.