David Einhorn is building new position in CNH Industrial, says agricultural play is ‘cheap'

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David Einhorn is building new position in CNH Industrial, says agricultural play is ‘cheap'
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The hedge fund investor said the agricultural machinery company is an under-the-radar value play as the industry nears the end of a bearish cycle.

conference in New York City, the hedge fund investor said the agricultural machinery company is an under-the-radar value play as the industry nears the end of a bearish cycle."It's exactly the kind of situation that absolutely nobody cares about right now because it's cheap, and the news over the next period of time isn't going to be very good.

"There's very little financial leverage. And sometime next year, maybe even in early 2026.... people will begin envisioning a couple dollars earnings on the top cycle," Einhorn said."You had a period where you had a bit of a boom in agriculture equipment purchases, and now that's turned into a cyclical bust. These things come and they go," Einhorn said."This year, the ag equipment universe is probably 20% below its average at the end of the whole recycle.

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