The Real Eisman Playbook Flight to Safety Begins, Private Credit Cracks & the Software Bloodbath Continues | The Weekly Wrap
131 snips
Feb 20, 2026 Markets shifting toward safety as investors rotate out of growth and into staples. Rising concerns about private credit redemptions and duration mismatches. A fresh round of media M&A drama and strategic winners. Continued carnage in software stocks and mixed signals from earnings across payments, retailers, and infrastructure. Mailbag tackles recession risks, insurance troubles, and technical analysis checks.
AI Snips
Chapters
Transcript
Episode notes
Software Stocks Punished For Mixed News
- Software is in a bloodbath where even beat-and-raise results can trigger sell-offs if guidance is mixed.
- Mixed guidance in this environment is punished harshly, as seen with Palo Alto Networks' after-hours drop.
Payments Narrow To Two Winners
- The payments industry is consolidating into Visa and Mastercard as long-term winners while others become trading vehicles.
- Global Payments' volatility and low growth make it a hedge-fund trade, not a buy-and-hold investment.
Moody's Example Of Proprietary Moat
- Moody's beat and highlighted its proprietary database, which shields it from AI disruption.
- Eisman notes he has owned Moody's for years and values duopolies with defensible data assets.