Neuberger Berman portfolio manager Steve Eisman is bullish on bank stocks.
The financial “industry is so well-capitalized today that I don’t see any problems emerging for a very long time … I sleep very well. I just don’t see any systemic risk on the horizon,” Eisman said Friday on CNBC’s “Closing Bell.” “My top pick is Citigroup.”
The investor added that Citigroup’s executive team is “managing the company properly, and I think over time it has the most potential upside.”
He said the financial sector is now well-capitalized with “clean” balance sheets and heavily regulated.
Eisman is known for being one of the few investors to profitably bet against subprime mortgage securities during the financial crisis. He was a key character in Michael Lewis’ best-selling book “The Big Short” and was depicted by actor Steve Carell in the movie based on the book.
In May 2017, Eisman said on CNBC that he was investing in “a whole bunch of banks and investment banks.”