Milken confab investors: Watch for these bubbles

Siegfried Layda | Getty Images

Investors should be wary of excess in several crowded trades in today's market, according to large investment managers at the Milken Institute Global Conference.

"I am worried about bubbles forming," Robert Kricheff, a portfolio manager at bond investor Shenkman Capital, said Wednesday at the event in Los Angeles.

"I don't think there's a big broad bubble—you're not going to pull one string and the dress falls off—but there are definitely issues out there."