Skip to comments.DAVID TEPPER: 'This Country Is On The Verge Of An Explosion Of Greatness'
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 ...
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.
>> “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...
>> “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.
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.
...or as the late J. Bruce Ismay(White Star Line)might say..."full speed ahead! WOOHOO!"
Explosion? I guess he’s a zit. Get it.
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.
“pump and dump” is OK with you then?
Someone giving “financial advice” to his own advantage and your detriment is OK?
Once again, if you think Tepper is a “pump and dump” guy then you are completely clueless about him.
$16 trillion, and climbing by a trillion a year.
Selling worthless paper is not investing; its crime.
How do you think the banks got so deep in toxic debt?
The total sovereign debt, including states, cities and special districts (schools, water, power, sewers) is over 46 trillion, and climbing fast.
LMFAO that you think Tepper is sell side. It is painfully obvious that there are a ton of absolutely clueless people in this thread when it comes to finance. The level of understanding of economics and finance is frankly quite poor on FR. Sad to see as it didn’t used to be that way.
Damn you’re stupid!
I’m talking about the whole toxic debt industry. Every one of them belong in solitary confinement for life.