(Bloomberg) -- David Einhorn revealed a new position in agriculture equipment company CNH Industrial NV, whose shares rose 7.5% to $10.80 at 4:41 p.m. in New York.   

The stock “can double in the next couple years,” the billionaire founder of Greenlight Capital said Wednesday at the CNBC Delivering Alpha Conference. 

The company makes equipment such as tractors and combines, and Einhorn joked that he wouldn’t be revealing the long position while riding farming equipment. He recently announced an investment in Peloton while working out on the exercise bike.

“It’s exactly the king of situation that absolutely nobody cares about right now, because it’s cheap and the news over the next period of time probably isn’t going to be very good,” Einhorn said Wednesday, pointing to low agriculture prices and equipment being in a down cycle. 

Greenlight has also increased its bets on inflation, anticipating that President-elect Donald Trump’s immigration policies will boost prices, Einhorn said. The swift outcome of the election came as a surprise to Einhorn, but he said the decisive victory benefits political stability.

While he continues to view the stock market as overvalued, Einhorn doesn’t see the market crashing anytime soon.

“I can’t really see what’s going to break the market at this point,” he said. “It doesn’t seem to be anything obvious to me.”

Einhorn also opined on the state of value investing, saying the asset management industry is in a “secular destruction” and that there is a “perpetual erosion of value as a strategy.”

Still, he sees opportunity ahead, comparing himself to the last Maytag salesman.

Greenlight is up 11% this year through October, according to a person familiar with the matter.

(Updates with additional comments from Einhorn starting in fifth paragraph)

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