The Real Eisman Playbook Trump Tariff Turmoil, Private Credit Risk Grows, & AI’s Software Fears | The Weekly Wrap
59 snips
Feb 27, 2026 A sharp run-through of a Supreme Court tariff ruling and its market fallout. A look at stress in private credit, raises around Blue Owl and opaque loan moves. Concerns about AI disrupting software and hitting cybersecurity and payments. Quick rundowns of big weekly earnings and a mailbag on market reactions and retail investor tools.
AI Snips
Chapters
Transcript
Episode notes
Private Equity Selling Loans Into Its Own Insurance Arm Creates Hidden Leverage
- Blue Owl sold loans to Kuvari Insurance, an entity whose asset‑management arm Blue Owl acquired, creating non arm's‑length transfers of risk.
- Eisman warns those loans can be re‑levered inside insurers and CLOs, shifting risk to policyholders.
Private Credit Overexposed To Software Faces AI Disruption Risk
- Private credit portfolios are heavily exposed to software buyout loans that face AI disruption risk; UBS warned defaults could surge to 15%.
- Eisman calls a 15% default disastrous and questions how investors missed LLM adoption risks.
AI Scares Hit Software Yet Payments Have Durable Network Moats
- AI fears hit cybersecurity and payments stocks even though network effects protect firms like Visa and Mastercard.
- Eisman concedes uncertainty in software impact but defends payments' structural moat against AI disruption.