Want to short the Canadian Housing Market?
25 minutes ago by Thomson Reuters
By Sam Forgione
NEW YORK, May 8 (Reuters) - Steven Eisman, founder and portfolio manager of hedge fund Emrys Partners, L.P., said Wednesday that he is positive on U.S. housing but wary of Canada's housing market.
Speaking at the Sohn Investment Conference in New York, Eisman said he likes housing stocks such as Lennar, Forestar Group, Colony Financial Corp., and Ocwen Financial.
He said he is wary of Canadian mortgage originator Home Capital Group. Eisman said the Canadian housing market is troubled and estimated the domestic funding gap for the six big Canadian banks at roughly $427 billion.