Money managers including David Einhorn and Bill Ackman descended on New York’s Lincoln Center on Monday where about 3,000 people gathered at the annual Sohn Investment Conference, one of the hedge fund industry’s marquee events, to hear the latest trade picks.

Jeffrey Gundlach, who at last year’s conference told attendees to prepare for a Donald Trump presidency, said to buy the iShares MSCI emerging markets exchange-traded fund and bet against the SPDR S&P 500 ETF. 

“What the heck, let’s have some fun,” he said. “Let’s leverage it one time.” Davide Serra said investors should short U.K. rates ahead of Brexit, while Josh Resnick sent shares of Frontier Communications Corp. falling as he predicted the telecom operator was headed for bankruptcy.

Here’s a list of the conference’s biggest takeaways:

Greenlight’s Einhorn Says He’s Shorting Core Laboratories

Einhorn said oilfield-service company Core Laboratories NV is poised to disappoint investors as lower prices dry up business opportunities outside the U.S. “Investors are paying a peak multiple for earnings that are poised to disappoint,” he said.

Gundlach Says to Short S&P 500 and Go Long Emerging Market ETF

Gundlach also said it’s a myth that the Federal Reserve raising rates necessarily leads to a stronger dollar.

Jericho’s Josh Resnick Says Frontier Is Headed for Bankruptcy

Even grandmothers are switching from wireline-telecom companies to mobile phones and data providers, Resnick said. “We believe Frontier is milking its network while causing its customers to suffer the consequences.” The shares fell in after-market trading.

Algebris’s Serra Says Short U.K. Rates as Brexit Damage Looms

Serra of hedge fund Algebris Investments said investors should short U.K. rates ahead of Brexit. He also pitched UniCredit SpA, saying the bank is poised to benefit not only from consolidation but its exposure to Germany.

Robbins Pitches Post-Merger Companies That Were ‘Left for Dead’

Larry Robbins of Glenview Capital Management said investors have left several stocks for dead amid a regulatory environment that’s stymied merger activity in the U.S. He said he likes three of these now post-merger companies whose share-growth potential is being overlooked by the market: DXC Technologies Co., FMC Corp., and Quintiles IMS Holdings Inc.

Altimeter’s Gerstner Says Shares of United Airlines Could Triple

Brad Gerstner said shares of his hedge fund’s top holding, United Continental Holdings Inc., could double or triple in the next few years.

Social Capital’s Palihapitiya Likes Tesla 2022 Convertible Bonds

Chamath Palihapitiya  recommended owning Tesla Inc.’s 2022 convertible bonds, saying they protect potential upside and downside. He called Elon Musk “our generation’s Thomas Edison” and compared Tesla to an early-stage Apple Inc.

Fine Capital’s Fine Recommends DHX Media as Long

Debra Fine said she sees upside to C$20 to C$30 a share as children’s content is monetized.

Corvex’s Meister Pitches CenturyLink as It Merges With Level 3

Keith Meister recommended CenturyLink Inc., which has agreed to buy Level 3 Communications Inc., and is pushing to keep Level 3 CEO Jeffrey Storey as part of the combined company.

Pershing Square’s Ackman Says Howard Hughes ‘Attractive’ Buy Now

Ackman said real estate group Howard Hughes Corp. -- one of the longest-held investments of his activist hedge fund Pershing Square Capital Management -- is an attractive buy.

Blue Harbour Says Investors Bancorp an ‘Attractive Acquisition’

Investors Bancorp Inc. generates greater excess capital than many of its peers and has potential upside, Cliff Robbins said.

Former Fed Governor Warsh Says VIX Signals High Market Risk

Kevin Warsh, who also consults for Stan Druckenmiller’s family office, said he believes the market is dangerous when measures of risk appear to be so low.