The Real Eisman Playbook Private Credit Cracks, The AI "Boogeyman" & Why Crypto is for Boomers | The Real Eisman Playbook Episode 49
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Mar 9, 2026 Dwight Collins, co-head of U.S. business at Autonomous Research, covers market flow dynamics. Glenn Shorr, Evercore sell-side analyst, focuses on banks and asset managers. They debate private credit cracks and Blue Owl moves. They dissect AI risks to financial services. They unpack crypto’s retail slump, stablecoin pressures, and why payments and bank M&A matter.
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AI Headlines Create Panic In Stable Stocks
- AI headlines can cause outsized short-term stock moves in low-volatility sectors like insurance brokers and wealth managers.
- Dwight points to a Spanish AI insurance app approval that sent brokers down 10–12% despite tools likely being augmenting, not replacing, brokers.
AI Is Powerful But Integration Slows Disruption
- AI feels transformational but its real-world adoption and integration create friction that tempers instant disruption.
- Steve Eisman compares early AI signals to pre-crisis warnings and Glenn notes integration, testing, and usage are nontrivial.
Eisman's Early Warning Stories
- Steve Eisman recounts moments when insiders warned him of unfolding crises but he couldn't fully grasp them until events accelerated.
- He compares early AI signals to missed early warnings in the mortgage crisis and the pandemic family dinner example.