David Tepper Dumps 40% Of US Equity Exposure … Despite Claiming ‘Stocks Inexpensive’

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Making $400,000 PER HOUR, The Best Paid Hedge Fund Manager In 2013 Was … David Tepper


David-Tepper

David Tepper Dumps 40% Of US Equity Exposure Despite Claiming “Stocks Inexpensive” (ZeroHedge, Feb 17, 2015):

At the start of Q4 2014, Appaloosa’s David Tepper made a series of statements – dismissing Bill Gross as irrelevant (nope – turmoil caused by PIMCO unwinds roiled credit markets), calling the end of the bond bull market (nope – yields went on make lower and lower lows), and finally proclaiming that stocks were inexpensive and multiples not high. So, one wonders, if stocks were inexpensive and multiples not high, why did Appaloosa dump 40% of its US equity exposure in that quarter (only to end the quarter with even more exuberance proclaiming that stocks could rise another 10% in 2015)? It appears that when David Tepper says “buy”, he means “buy… from me.”

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