Steve Eisman, the investor who raised money and profited from the subprime mortgage crisis, said Monday that the stock market could continue to move higher if there are no signs of a recession. “So far, there’s been no evidence of a recession. So as long as there’s no evidence of a recession, and I think the market is likely to continue to melt, people are chasing,” Eisman, a senior portfolio manager at Neuberger Berman, said on CNBC’s “Squawk Box.” The Dow Jones Industrial Average posted its 10th consecutive positive day on Friday, marking its longest rally since 2017. The S&P 500 has gained more than 18% this year, after posting its best first half since 2019. The most recent rally was triggered by weaker-than-expected inflation, which could give the Federal Reserve some headroom in the tightening cycle. “We’ve entered a year where most people predicted the most-anticipated recession that never happened,” Eisman said. “A lot of people have very conservative views and they’re falling behind. So they’re trying to keep up.” The famous “The Big Short” investor said he is “fully invested” and would rather hold his winning positions than take profits because of the high capital gains tax. “Today, the tax implications are heavy,” says Eisman. So if you sell something where you make a big profit and pay a 35% tax… then we would rather hold the positions and just hold them.” Eisman became famous for his bets on subprime mortgages before the 2008 financial crisis, as documented in Michael Lewis’s “The Big Short,” and the subsequent Oscar-winning film based on the book. The widely watched investor said he has concerns about the impact of the rate hike on the economy, which is not evident in the economic data. “One thing I’m worried about is that the Fed has raised rates a lot. It’s going to have a very negative impact on the economy for sure and we’re very worried about that. But there’s no data to back that up at this point,” Eisman said.