It’s fun to watch investing “titans” do battle publicly. That’s what’s setting up between David Einhorn and Seth Klarman, two billionaire hedge fund managers.
Klarman is the king of finding and buying undervalued companies.
Einhorn is an activist investor most well known for shorthing Lehman before it fell apart.
PXD is a shale oil producer.
Klarman clearly thinks it’s undervalued based a recent SEC filing.
Einhorn thinks shale oil production is uneconomic even at $100.00 per barrel, so he dislikes all the shale producers, but particularly PXD (he calls it a Motherfracker).
Right now, the charts suggests Einhorn is right.
We’ll see if it stays that way.