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Eisman of ‘The Big Short’ Fame Recommends Shorting Deutsche Bank

  • Bank has profitability issues, may need more capital: Eisman
  • Eisman is also betting against Canadian banks, Wells Fargo
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Neuberger Berman Managing Director Steven Eisman discusses the U.S. financial system and regulation.(Source: Bloomberg)
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Steve Eisman, the Neuberger Berman Group money manager who famously predicted the collapse of subprime mortgages before the 2008 financial crisis, recommended shorting Deutsche Bank AG shares.

“Deutsche Bank is a problem bank,” Eisman said in a Bloomberg Television interview in Hong Kong. The German lender has “profitability issues,” and will probably have to raise capital next year, he said, without disclosing his position on the shares. A Deutsche Bank representative declined to comment on the remarks.