Tepper Tones-Down Bullishness on U.S. Market
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On Monday, CNBC noted the performance of hedge fund giant David Tepper as his Appaloosa Management celebrates its 20th anniversary.
There was a notable part of CNBC's presentation, which had Tepper saying that stocks were still reasonable and he was still long, but he said
Tepper's Appaloosa is up 23.4 percent in 2013, bolstered by a positive 5.5 percent performance in July. Appaloosa returned 30.5 percent over the last five years. Over the last 20-year prior, Appaloosa has returned 28 percent net of fees, or 36 percent gross.
U.S. markets could be taking the hint today, with the S&P 500 down 13 points, the DJIA off 128 points, and the Nasdaq down 36 points.
There was a notable part of CNBC's presentation, which had Tepper saying that stocks were still reasonable and he was still long, but he said
if I was super bullish before, i'm just bullish now.
Tepper's Appaloosa is up 23.4 percent in 2013, bolstered by a positive 5.5 percent performance in July. Appaloosa returned 30.5 percent over the last five years. Over the last 20-year prior, Appaloosa has returned 28 percent net of fees, or 36 percent gross.
U.S. markets could be taking the hint today, with the S&P 500 down 13 points, the DJIA off 128 points, and the Nasdaq down 36 points.
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