Should you bet against frackers with Einhorn?

David Einhorn
Adam Jeffery | CNBC
David Einhorn

David Einhorn, a hedge fund manager who successfully bet against Lehman Brothers and others, found his next target: oil fracking companies.

The Greenlight Capital president laid out his short thesis during the annual Sohn Investment Conference in New York. Shares of Pioneer Natural Resources, EOG Resources, Concho Resources, Continental Resources and Whiting Petroleum dropped as Einhorn mentioned them in his speech at the conference.

Should you follow his lead and sell the fracking stocks ... or even bet against them as well?