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Bailey McCann, Opalesque New York:

The annual Sohn Conference was held yesterday in New York City. The event brings together titans of the hedge fund industry and asks them to share their best ideas. This year, however, while the bulls and bears were sparring inside the Hedge Clippers were marching outside. But they weren't the only one's getting political - "I think you have to prepare yourself for a Trump Presidency," said DoubleLine Capital CEO Jeffery Gundlach.

Gundlach's presentation wasn't only about politics though, he also offered a few ideas including selling exposure to the utility index and going long mortgage REITS. He also took a moment to call out recent moves by central banks to go to negative interest rates saying that going negative hasn't worked yet, and that the currencies in countries with negative rates end up running stronger against the dollar not weakening as policymakers would hope.

Gundlach was followed by Zachary Schreiber, Chairman, Chief Executive Officer and Chief Investment Officer, at PointState Capital. Schreiber gained notoriety for correctly predicting the oil price crash at the Sohn Conference in a previous year and in some ways, his calls at this conference add layers to that prediction. Scheiber is going long the US Dollar and short the Saudi Riyal. He said that the country's economy is unsustainable with oil prices sitting below $50/barrel. "No matter how you look at it Saudi has a 2-3 year runwa......................

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