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DAVID TEPPER: 'This Country Is On The Verge Of An Explosion Of Greatness'
TBI ^ | 1-22-2013 | Julia La Roche

Posted on 01/22/2013 10:47:32 AM PST by blam

DAVID TEPPER: 'This Country Is On The Verge Of An Explosion Of Greatness'

Julia La Roche
Jan. 22, 2013, 11:13 AM

David Tepper, who runs $12 billion distressed debt hedge fund Appaloosa Management, was on Bloomberg TV "Market Makers" with Stephanie Ruhle moments ago.

It was a tremendous interview and it showed a very relaxed and funny side of Tepper.

Tepper, who has one of the best long-term track records, told Bloomberg TV that his fund was up 30% in 2012.

He's said he's "going to come out of the closet" as being bullish in 2013.

The reason, he explained, is there are no major negatives and basically nothing to really be bearish about.

"This country is on the verge of an explosion of greatness," he said, "An explosion of greatness."

He said the "main thing right now is to be long equities." He said that if you're long equities, you're going to make money this year.

Tepper is long Citigroup, which is one of his fund's top holdings. He thinks Citi has a 50% upside from here due to its international business.

As an aside, he clearly had a lot of fun on set with Ruhle.

At the beginning, Tepper, who owns a 5% stake in his hometown Pittsburgh Steelers, gave her a Steelers hat. She didn't try it on. He joked that it might mess up her hair.

Speaking of jokes, Tepper was full of them today. For example, he made fun of the Bloomberg TV set for being cheap when Ruhle said she didn't make a lot of money and he also said something about how taking his clothes off would kill (snip)

(Excerpt) Read more at businessinsider.com ...


TOPICS: Extended News; News/Current Events
KEYWORDS: businessinsider; economy; hedgefunds; investing; markets; zerohedge
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"Ruhle also asked him about his "biggest regret."
He responded saying he wished he used Rogaine earlier.
Bloomberg showed images of him earlier in the segment rocking an afro in 1978. "


1 posted on 01/22/2013 10:47:37 AM PST by blam
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To: blam

He is right about one thing. The country is on the verge of an explosion.


2 posted on 01/22/2013 10:49:55 AM PST by Venturer
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To: blam
One Sentence That Explains Why Bears Are Dropping Like Flies
3 posted on 01/22/2013 10:49:55 AM PST by blam
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To: blam

“Pride goes before ... a fall.” -Proverbs 16:18


4 posted on 01/22/2013 10:52:48 AM PST by MDLION ("Trust in the Lord with all your heart" -Proverbs 3:5)
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To: blam

This is bubble talk. I’d be worried.


5 posted on 01/22/2013 10:53:21 AM PST by Huskrrrr
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To: Venturer

He is right about one thing. The country is on the verge of an explosion.


That was my identical thought when I saw the title.


6 posted on 01/22/2013 10:58:09 AM PST by The Working Man
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To: blam

Yup......$16 TRILLION in debt.....nothing to lose sleep over.


7 posted on 01/22/2013 11:01:06 AM PST by Trapped Behind Enemy Lines
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To: blam

Debt is 16 trill, but add in all unfunded liabilities and the debt is more like $115 TRILLION DOLLARS.

That’s a stack of $100 bills TWICE as high as the World Trade Center.

Explosion, indeed.


8 posted on 01/22/2013 11:03:59 AM PST by gaijin
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To: blam

Yup the Medicare grandparents will explode. The value of the dollar will implode. And us purveyors of second amendment rights are ripe to explode.


9 posted on 01/22/2013 11:06:09 AM PST by Vaquero (Don't pick a fight with an old guy. If he is too old to fight, he'll just kill you.)
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To: blam

It must be nice to be such a blooming, cock-eyed optimist.
Oh well, I can dream can’t I. s/


10 posted on 01/22/2013 11:11:10 AM PST by seenenuf ( Save the Right Supremes.)
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To: blam

TRANSLATION: “We can’t tell what the Hell is going to happen.”


11 posted on 01/22/2013 11:14:19 AM PST by E. Pluribus Unum (TYRANNY: When the people fear the politicians. LIBERTY: When the politicians fear the people.)
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To: blam
If he's thinking Obama will implode, he's right...the stock market will go up.

This is what happened in O's first term. When he DIDN'T get his main initiatives through (no cap and trade, continued fighting the Bush wars, etc.) the stock market improved.

The markets like a weak Obama.

12 posted on 01/22/2013 11:14:43 AM PST by what's up
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To: blam

He may be right. The average US worker’s wages and standard of living have been cut to a quarter of what it was twenty years ago. We’re “competitive” now. That, fracking, and the rest of the world collapsing, who knows. All we have to do is go down the drain slower than the rest of the world, and we’ll have a boom.


13 posted on 01/22/2013 11:15:05 AM PST by Born to Conserve
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To: blam
'This Country Is On The Verge Of An Explosion Of Greatness'

No, we're on the verge of a $1 Quadrillion derivatives explosion and a bond market crash. Our money has been so watered down by massive printing (to create the illusion the economy is doing just fine under Oboma), the cost of food is going to double, to say the least.
When they start offering money for silver like they did gold (to get it out of the citizens hands), and the gold and silver markets move all over the place, we'll know we've slipped over the cliff.

The left thinks world wide mutual destruction is a good thing, as if they'll be able to come in as the saviors to save us all afterwards.
Tust me, the people of the world are NOT going to look favorably on the worlds control freak politicians. They're the ones that manufactured the crises for their own enrichment and power. People aren't going to want to be BFF with these guys!!!

14 posted on 01/22/2013 11:15:23 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: blam

That Tepper interview was fantastic. Just hilarious. To put it in perspective he was commenting about being long in equities as the credit markets are just about “full” with money from the QE actions across the globe (BOJ announced a new one last night). Money has left equities over the last 2 years and gone into credit markets (look at the near record lows in UST’s). He’s expecting equities to fill the hole as “typical risk averse assets are topping”. He was making a comparison of US markets versus the rest of the world. The guy is very, very, very good at what he does.


15 posted on 01/22/2013 11:15:26 AM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: seenenuf

Picture looks like Rick on “Pawn Stars”? I suppose a hedge fund is like a pawn shop.


16 posted on 01/22/2013 11:16:43 AM PST by damper99
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To: Venturer

This country is on the verge of an implosion...


17 posted on 01/22/2013 11:17:29 AM PST by doomtrooper99 (Mitt is getting army behind him)
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To: seenenuf
It must be nice to be such a blooming, cock-eyed optimist. Oh well, I can dream can’t I. s/

LMAO! You must not know anything about Tepper to think he is a "cock-eyed optimist."

18 posted on 01/22/2013 11:18:01 AM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: blam

Got news for you Dave, this country is way down a slippery slope to oblivion.


19 posted on 01/22/2013 11:18:34 AM PST by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: Vaquero
"Yup the Medicare grandparents will explode. The value of the dollar will implode. And us purveyors of second amendment rights are ripe to explode."

The Worldwide Demographic Cliff Is Going To Be Brutal

20 posted on 01/22/2013 11:21:15 AM PST by blam
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To: Wyatt's Torch
$1 Quadrillion in OTC Derivatives is beginning to detonate (see JP Morgan).
This catastrophe in the making will take your IRA, 401K, and Pension from you.
It will increase the cost of your basic neccessities (gas, food, shelter) exponentially over the next couple years.
The bond market has about a month or so? May a couple more at the most?

The left sees this as a good thing. Think about that a minute. World economic destruction, and they're celebrating it?

21 posted on 01/22/2013 11:26:44 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: blam

It’s going to explode all right, but not what Tepper thinks.


22 posted on 01/22/2013 11:28:38 AM PST by Biggirl ("Jesus talked to us as individuals"-Jim Vicevich/Thanks JimV!)
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To: blam

Has he been spending his time in the pot clubs in Colorado??


23 posted on 01/22/2013 11:31:31 AM PST by The Great RJ
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To: concerned about politics

What derivatives (specifically) and where at JPM? Who is the counterparty?


24 posted on 01/22/2013 11:31:35 AM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: seenenuf

If you were able to make a billion a year on distressed debt, you might be an optimist on this economy as well.


25 posted on 01/22/2013 11:36:26 AM PST by 9YearLurker
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To: 9YearLurker

He’s about 60% long equities in his funds too.


26 posted on 01/22/2013 11:38:54 AM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: blam

This reads like one of those articles they inevitably have on “American Greed” that was written about many of the scammers.


27 posted on 01/22/2013 11:39:59 AM PST by CSM (Keeper of the Dave Ramsey Ping list. FReepmail me if you want your beeber stuned.)
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To: blam
This country is on the verge of a civil war, you idiot, and it will be caused by Barry Obama and his Donkey Party.
28 posted on 01/22/2013 11:46:56 AM PST by MasterGunner01
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To: Wyatt's Torch

He’s largely in financial stocks—which are another form of distressed debt holdings.


29 posted on 01/22/2013 11:47:00 AM PST by 9YearLurker
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To: blam
pump and dump shyster. Look around you at the cultural, political, economical and finacial trends in the country. explosion indeed
30 posted on 01/22/2013 11:51:49 AM PST by paul51 (11 September 2001 - Never forget)
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To: Venturer
He is right about one thing. The country is on the verge of an explosion.

Roger that.

31 posted on 01/22/2013 11:56:21 AM PST by Mark17 (California, where English is a foreign language)
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To: 9YearLurker

Last 13F top 10:

QQQ - 11%
AAPL - 9.65%
C - 8.3%
AIG - 6.73%
UAL - 4.76%
GTPP - 4.34
GOOG - 3.66
QCOM - 3.58%
LCC - 3.54%
GM - 3.37%

JPM is 14th at 2.41% which makes “financials” 17.4% of the portfolio. The majority of the top 10 is Tech stock with QQQ, AAPL, GOOG, QCOM making up 24.31% (BRCM and ORCL are in top 20), Airlines, Car Manufacturers (F is 13th) and housing (OC, MAS, WHR, MWA) make up the bulk of the rest.


32 posted on 01/22/2013 11:59:55 AM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: paul51

“pump and dump shyster”

So that’s why the majority of his funds holdings he has for 3+ years?


33 posted on 01/22/2013 12:00:57 PM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Huskrrrr

These guys are the casino managers encouraging everyone to go all in because the house is paying out big tonight,

then they shut off the lights leaving you with a bunch of worthless plastic chips.


34 posted on 01/22/2013 12:02:35 PM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: MrB

Great analogy.


35 posted on 01/22/2013 12:09:53 PM PST by Huskrrrr
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To: blam

If by on verge he means in four years when this apologist, socialist, America hater is out of office and we hopefully have a Conservative, America loving patriot at it’s helm, then I agree.


36 posted on 01/22/2013 12:16:43 PM PST by Mastador1 (I'll take a bad dog over a good politician any day!)
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To: blam

Actually, Al Qeada is about to explode all over the world. And while you are watching your assets literally exploding, thank Emperor Zero who made Osama Bin Laden into one of the greatest Islamic martyrs, just so he could buy a reelection.


37 posted on 01/22/2013 12:17:58 PM PST by justa-hairyape
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To: Venturer

“He is right about one thing. The country is on the verge of an explosion”

You beat me to it.

This guy is on crack.


38 posted on 01/22/2013 12:31:45 PM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: Wyatt's Torch
that’s right. the fundamentals are very sound and he’s locked in.
39 posted on 01/22/2013 12:40:03 PM PST by paul51 (11 September 2001 - Never forget)
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To: Wyatt's Torch

I stand corrected. I was familiar with his Citi and AIG holdings.


40 posted on 01/22/2013 1:41:14 PM PST by 9YearLurker
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To: 9YearLurker

He did say that he thought CITI has “50% upside from here”. He is also invested in GM which is another bailout firm. David Einhorn also has made a killing on GM.


41 posted on 01/22/2013 2:01:07 PM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: 9YearLurker

>> “If you were able to make a billion a year on distressed debt, you might be an optimist on this economy as well.” <<

.
Of course most would call him a racketeer rather than an optimist...


42 posted on 01/22/2013 2:03:16 PM PST by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: MrB

>> “then they shut off the lights leaving you with a bunch of worthless plastic chips.” <<

.
Precisely my way of thinking.

Put these immoral opportunists in the cooler where they belong.


43 posted on 01/22/2013 2:06:12 PM PST by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: blam

This country is always on the verge or greatness.

Now and then, we actually achieve it.

Being on the verge of greatness is nothing.

0bama will pull us back to mediocrity and further into abject failure.

0bama lied, millions will die.
http://www.breitbart.com/Big-Peace/2013/01/22/Obama-Peace-in-Our-Time


44 posted on 01/22/2013 2:25:18 PM PST by Only1choice____Freedom (As long as America's tolerence of failure is not overwhelmed by a desire to succeed, we will fail.)
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To: Venturer
So long as the various(gov./business)Ponzi schemes keep pulling in "investors"...I believe him.

(derivatives...shhhh)

(CDO's...shhhh)

(employment prospects...shhhh)

(mortgage/title fraud...shhh)

...or as the late J. Bruce Ismay(White Star Line)might say..."full speed ahead! WOOHOO!"

45 posted on 01/22/2013 3:26:04 PM PST by RckyRaCoCo (Shall Not Be Infringed)
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To: blam

Explosion? I guess he’s a zit. Get it.


46 posted on 01/22/2013 3:43:33 PM PST by grumpygresh (Democrats delenda est.)
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To: editor-surveyor
Put these immoral opportunists in the cooler where they belong.

So investing is now "immoral opportunism"... fascinating that this is being said on a supposedly conservative website. This thread is a hell of a lot like the Occupy Wall Street freaks.

47 posted on 01/23/2013 12:02:45 PM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: blam

bookmark


48 posted on 01/23/2013 12:11:00 PM PST by PatriotGirl827 (O Mary, conceived without sin, pray for us who have recourse to thee)
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To: Wyatt's Torch

“pump and dump” is OK with you then?

Someone giving “financial advice” to his own advantage and your detriment is OK?


49 posted on 01/23/2013 12:13:19 PM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: MrB

Once again, if you think Tepper is a “pump and dump” guy then you are completely clueless about him.


50 posted on 01/23/2013 12:52:28 PM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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