Those familiar with his investing style believe that the first place Buffett will look into next year is most likely the transportation sector.
The fund's CIO warns that problems are lurking in a market that has become accustomed to freely flowing liquidity in the financial system.
He said America is experiencing a "terrific economy" and "it's not over yet," said Kudlow, who served as the Trump campaign's senior economic adviser.
Part of the trouble: A year ago, he misread the markets. Druckenmiller saw “warning signs” in prices and predicted a period of low returns.