David Tepper Says Don't Count on QE3

David Tepper of hedge fund Appaloosa Management, who triggered a market rally with his comments on CNBC in September 2010 to "buy everything" ahead of the Fed's QE2, made comments to the network Friday about the possibility of QE3 following Fed Chairman Ben Bernanke's speech earlier in the week.

Tepper was very glum about the possibility of QE3 saying "There is no logic to QE3 and the only result might be more food and energy inflation."

The hedge fund titan said this makes for a difficult investing environment.

While Tepper doesn't see QE3 coming down the pike, he believes if the S&P 500 drops a couple hundred more points and financial conditions tighten, the Fed might reconsider.

On a lighter note, Tepper told Becky Quick he would come on Squawk Box if Joe Kernen did the show topless.

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