'Big Short' Investor Steve Eisman Steers Clear Of AI Frenzy, Bets On Concrete Infrastructure Instead
'Big Short' Investor Steve Eisman Steers Clear Of AI Frenzy, Bets On Concrete Infrastructure Instead
Noted investor Steve Eisman, famous for his 'Big Short' bet, is now favoring infrastructure over AI investments.
著名投資者史蒂夫·艾斯曼（Steve Eisman）以 “大空頭” 賭注而聞名，他現在更喜歡基礎設施而不是人工智能投資。
What Happened: Eisman, a senior portfolio manager at Neuberger Berman, expressed his views on the Odd Lots podcast on Saturday. He identified four key factors that will drive the infrastructure sector: AI, electric grid investing, industrial onshoring, and green energy, reported Business Insider.
發生了什麼：諾伊伯格·伯曼的高級投資組合經理艾斯曼週六在Odd Lots播客中表達了自己的觀點。據《商業內幕》報道，他確定了推動基礎設施行業發展的四個關鍵因素：人工智能、電網投資、工業在岸和綠色能源。
Eisman considers infrastructure a safer investment than AI, which he believes is concentrated in a few elite firms. He sees a genuine secular story in infrastructure, with cyclical elements and long-lasting secular tailwinds.
艾斯曼認爲基礎設施是比人工智能更安全的投資，他認爲人工智能集中在少數精英公司身上。他看到了基礎設施領域的真實世俗故事，其中包含週期性因素和長期的長期利好因素。
"Everything else at this point seems to me to be hype, or potential and we don't own those companies. We own what's obvious," he said.
“在我看來，此時其他一切似乎都是炒作或潛力，我們不擁有這些公司。我們擁有顯而易見的東西，” 他說。
These tailwinds include the post-COVID shift towards onshoring as economies disentangle, which Eisman predicts will be a decade-long development. The industrial implications of AI, with new microchip technology requiring more electricity, will also boost electric grid improvements and spending.
這些利好因素包括隨着經濟的解體，後疫情向在岸外包的轉變，艾斯曼預測這將是一個長達十年的發展。人工智能的工業影響，新的微芯片技術需要更多的電力，也將促進電網的改善和支出。
Eisman also sees the move towards green infrastructure as a lasting tailwind for the sector. However, he is selective about his green energy investments, citing poor fundamentals for residential solar.
艾斯曼還認爲，向綠色基礎設施的轉變是該行業的持續推動力。但是，他對綠色能源投資持選擇性態度，理由是住宅太陽能基本面不佳。
Despite his bullishness on AI, Eisman is skeptical about the potential of crypto, viewing it as a purely speculative market.
儘管他對人工智能持看漲態度，但艾斯曼對加密貨幣的潛力持懷疑態度，將其視爲純粹的投機市場。
Why It Matters: Eisman's shift towards infrastructure comes after a series of warnings about potential market bubbles. Last week, he expressed concerns about a potential stock market bubble if the Federal Reserve decided to cut rates. Earlier in January, he raised a red flag on rising market optimism.
爲何重要：艾斯曼轉向基礎設施是在對潛在市場泡沫發出一系列警告之後發生的。上週，他對聯儲局決定降息可能出現的股市泡沫表示擔憂。1月初，由於市場樂觀情緒上升，他發出了危險信號。
His move to infrastructure was first hinted at in June when he started betting on U.S. infrastructure. This was a significant shift for Eisman, who had previously sounded the alarm on a potential commercial real estate crisis in October.
6月，當他開始押注美國基礎設施時，他首次暗示他轉向基礎設施。對於艾斯曼來說，這是一個重大轉變，他此前曾在10月份對潛在的商業房地產危機敲響警鐘。