Steven Eisman is an American businessman and investor During a speech entitled “Subprime Goes to College” during the Ira Sohn Conference in May Eisman attacked companies. In a speech titled “Subprime Goes to College,” delivered Wednesday at the Ira Sohn Investment Research Conference, Eisman blasted the. One of those managers was Steven Eisman of FrontPoint Partners Steven Eisman & FrontPoint Partners entitled, ‘Subprime Goes to College’.
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Earlier we aggregated a compilation of notes from the Ira Sohn Investment Conference where some very prominent hedge fund managers detailed investment ideas. You may be familiar with him as he was profiled as one goed the successful subprime traders in Michael Lewis’ book, The Big Short.
Subprime goes to college
Eisman thinks he has identified the next ‘subprime’ so to speak and gave a presentation at the Ira Sohn Conference entitled, “Subprime Goes to College. Eisan general thesis focuses on two factors: Washington clamping down on the industry and a rise in employment generating a decline in enrollment. He notes that a key to the problem here is the ‘rating’ these institutions receive from accreditation goee and he likens these boards to the ratings agencies who blessed subprime mortgages.
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As we’ve detailed numerous times, the for-profit education space is an investor battleground with a clear divergence of opinion. Stephen Mandel’s hedge fund Lone Pine Capital has been bullish on education plays.
While he has since scaled back his position some, we saw he ho owned it when we detailed Lone Pine’s portfolio.
That said, we’ve also noted that some of these managers have had a recent change of heart. David Stemerman’s hedge fund Conatus Capital had gows long and sold out of their education plays. Additionally, there are also numerous high profile detractors such as Jim Chanos who gave a negative presentation on for-profit education at last year’s conference.
And now, Eisman has joined the mix with his negative view too. We’ll watch with great interest to see how this one plays out.
For more great ideas from hedge fund managers, head to our aggregation subprims notes from the Ira Sohn Investment Conference and be sure to also check out our hedge fund portfolio tracking series.
Posted by market folly at Tracking top hedge funds since Subprime Goes to College.
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