Big Short Investor Explains How the AI Bubble Could Burst
Steve Eisman argues the AI boom rests on a handful of companies and hundreds of billions in infrastructure spending, risking recession and a sharp market correction.
Monday, November 9, 2026
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Trevor Scott on X
$FFH.TO finally overtaking $MKL on P/B (M2M value not included) "Fairfax currently has roughly $5 billion of excess fair value over carrying value in its associate and market-traded consolidated holdings—about $250 per share pre-tax." - @VikingVan100
DOMO Capital Management, LLC on X
@GoodHouseCap Maybe the bigger question is.... if PCI went bankrupt so suddenly.... what about the other competitors? Maybe $PBI doesn't need to acquire anyone. It's increasingly becoming a "K" business. Those with scale are killing it and those without are (or soon will be) bankrupt.
DOMO Capital Management, LLC on X
@GoodHouseCap Yes and will almost purely be incremental profit. $PBI has all the fixed costs and plenty of capacity - the incremental variable costs to take on the volume will be miniscule.
Myles on X
@DeepSailCapital $ASAN has been caught up in the software bounce despite being a pretty obvious AI loser and having none of the qualities that make the other software companies good.
A Capital on X
$CORZ < $16 🤔
SG on X
@Zerosumgame33 Manav calling $CLMT $DAR $ADM $BG "peers" is crazy to me. Other than all touching ag, they are very different businesses with very different drivers.
BDC on X
$GPRO acquired at $1.14. Was a $98. Founder lead with super voting rights. Woodman's hubris lost him billions. @evanspiegel don't make the same mistake. $snap
Investor Letters
All letters- Spheria — Global Smaller Companies Fund month ended 31 October 2026 SFM $4.6BSN $31B
- Rathbones October 2026 SBGSF $143BSIEGY $233B
- FCL Capital October 2026 ANPDF $28BBKNG $122B
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- NS Partners Q3 2026 AAVMY $39BALBKY $12B
- Invesco — Small Cap Value Fund Q3 2026 AVTR $10BCRL $16B
- Arisaig Partners September 2026 CHA $2.4BJBFCY $2.8B
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