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David Einhorn, Greenlight Capital – Core Laboratories N.V. (NYSE:CLB)

Einhorn was one of the few money managers to pitch a short idea yesterday during what was otherwise an exceedingly bullish conference. His target was Core Laboratories N.V. (NYSE:CLB), which he believes will fall by 45%. He described the company as having a cyclical business model, in contrast to the wider perception that it’s a secular growth company, and believes management is overestimating the recovery of oil prices (Core Labs believes oil prices are in the middle of a V-shaped pattern). He believes Core Labs got lucky during the 2009 drop in WTI, but won’t be so lucky again, saying that “this time around, it’s exposed to the least desirable parts of the sector.” Core Laboratories N.V. (NYSE:CLB) shares have sank by 6.6% this week.

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