Steve Eisman calls recent pullback a psychological rotation
Steve Eisman of “The Big Short” fame believes the recent tech-led market pullback is driven by emotions instead of a fundamental deterioration.
“Rotations are always violent. They always catch everybody unawares. And it’s not a fundamental correction. It’s like a psychological rotation,” Eisman said on CNBC’s “Fast Money.”
The senior portfolio manager at Neuberger Berman said there hasn’t been anything alarming about the economy overall.
“I don’t think fundamentals have really changed all that much,” he said. “The only negative data point I would point to is that consumer spending seems to have slowed a little bit on the margin, and delinquencies are up a touch.”
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2865479 : I can see in charts that this happens exactly around earnings time periodically same distance apart. volatility around earnings week