Sohn Investment Conference long on short ideas

, Investment

David Einhorn, president of Greenlight Capital Inc., speaks during the 21st annual Sohn Investment Conference in New York, U.S.

As hedge fund managers including David Einhorn and Jim Chanos touted their trade ideas at one of the industry’s marquee events, the overriding message was clear: Go short.

Billionaire Stan Druckenmiller said the bull market in stocks is wearing itself out. Other speakers at the Sohn Investment Conference in New York on Wednesday recommended betting against targets ranging from machine maker Caterpillar Inc. to MTN Group Ltd., Africa’s largest wireless operator.

Druckenmiller, who has one of the best long-term track records in money management, said that while he’s been critical of Federal Reserve stimulus policy for the last three years, he had expected it would lead to higher asset prices.

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