Any comparisons to past overheated markets are ridiculous. Look at where multiples and rates were in 1999. I'm not saying stocks are screaming cheap, but you're nowhere near an overheated market.
~ David Tepper, telephone interview with Scott Wapner, CNBC's Fast Money, August 15, 2017
Showing posts with label people - Tepper; David. Show all posts
Showing posts with label people - Tepper; David. Show all posts
Dec 4, 2013
Tepper stays bullish, predicts multiple expansion
I would be worried if I was a long/short guy and not long enough, that's what I'd be worried about. But I'm not worried, because I am long. But if I'm a long/short guy who can only go 60% long … the biggest risk for the market is you'll have multiple expansion, higher growth, 10% earnings growth next year, and you'll have another year of 20%-30%.
~ David Tepper, "David Tepper on why the bulls are right," Bloomberg, December 4, 2013
~ David Tepper, "David Tepper on why the bulls are right," Bloomberg, December 4, 2013
May 20, 2013
Hedge fund guru David Tepper on tapering Fed's QE and burying short sellers
There better be a true [Fed] taper or else you might be back into the last
half of 1999. So like guys
that are short, they better have a shovel to get themselves out of the grave.
If the Fed doesn't taper back, we're going to get into this hyper-drive market. It's a backwards argument. To keep the markets going up at a steady pace the Fed has to taper back.
~ David Tepper, as appeared on CNBC's Squawk Box, May 14, 2013
If the Fed doesn't taper back, we're going to get into this hyper-drive market. It's a backwards argument. To keep the markets going up at a steady pace the Fed has to taper back.
~ David Tepper, as appeared on CNBC's Squawk Box, May 14, 2013
Sep 24, 2010
David Tepper forecasts the S&P500 heading into Q4 2010
It's not as easy in the near-term, because, what we talked about before is, you know, the economy, I'm not sure which way it is right now. I think it's getting better. I'm not absolutely sure. And if it's not getting better, the market can go down a little bit.
What does that mean, can it go down to 1100? Sure it can. Can it go down to 1000? No. I don't believe that. I mean, it can but if it does we're going to be 100% equities. Well, 90% equities, I do like to have some cash around.
~ David Tepper, president and founder, Appaloosa Management, CNBC's Squawk Box, September 24th, 2010
What does that mean, can it go down to 1100? Sure it can. Can it go down to 1000? No. I don't believe that. I mean, it can but if it does we're going to be 100% equities. Well, 90% equities, I do like to have some cash around.
~ David Tepper, president and founder, Appaloosa Management, CNBC's Squawk Box, September 24th, 2010
David Tepper on comparisons between Japan and the US
No, we're not Japan.
We're not Japan because, what's your mortgage rate? Five and change. So, if it's 4%, you save money, right? Do you spend some of that money you will save? Damn, that will work!
Okay, the Fed can buy mortgages. They can make it work. We're not at zero, are we, on mortgages? No. So, we can go to 1%, 1.5%, 2%-- on that way, you're buying stuff.
~ David Tepper, president and founder, Appaloosa Management, CNBC's Squawk Box, September 24th, 2010
We're not Japan because, what's your mortgage rate? Five and change. So, if it's 4%, you save money, right? Do you spend some of that money you will save? Damn, that will work!
Okay, the Fed can buy mortgages. They can make it work. We're not at zero, are we, on mortgages? No. So, we can go to 1%, 1.5%, 2%-- on that way, you're buying stuff.
~ David Tepper, president and founder, Appaloosa Management, CNBC's Squawk Box, September 24th, 2010
David Tepper says don't fight the Fed
[The Fed] said they want economic growth, and not only do we not care if there's inflation, but we want a little more inflation. Have they ever said that before? No. They said they want the market up, so what am I going to say, "No, Fed, I disagree with you, I don't want to be long"?
Right now, what's going to happen? Two things are happening, it's that easy sometimes. Either the economy is going to get better by itself in the next three months, and what assets are going to do well? Stocks will do well, bonds won't do well, gold won't do so well. Or, the economy is not going to pick up in the next three months and the Fed's going to come in with QE, right? Then, what's going to do well?
Everything... in the near term.
So, let's see, what I got is two different situations. One, the economy gets better by itself. Stocks are better, bonds are worse, gold is worse, if you want to talk about those three assets. The other situation is, the Fed comes in with money. Now, up until the point the Fed comes in with money the stock market can go down a little bit-- but not that much! Because I got a put. Ya gotta love a put, especially when the government is issuing it.
So, I can't go down that much. It doesn't mean I go up until that point, but after that it means I go up, so what do I do? I gotta buy! I can't take the chance of not being a little bit longer now.
It's that easy. That's how easy it is.
~ David Tepper, president and founder, Appaloosa Management, CNBC's Squawk Box, September 24th, 2010
Right now, what's going to happen? Two things are happening, it's that easy sometimes. Either the economy is going to get better by itself in the next three months, and what assets are going to do well? Stocks will do well, bonds won't do well, gold won't do so well. Or, the economy is not going to pick up in the next three months and the Fed's going to come in with QE, right? Then, what's going to do well?
Everything... in the near term.
So, let's see, what I got is two different situations. One, the economy gets better by itself. Stocks are better, bonds are worse, gold is worse, if you want to talk about those three assets. The other situation is, the Fed comes in with money. Now, up until the point the Fed comes in with money the stock market can go down a little bit-- but not that much! Because I got a put. Ya gotta love a put, especially when the government is issuing it.
So, I can't go down that much. It doesn't mean I go up until that point, but after that it means I go up, so what do I do? I gotta buy! I can't take the chance of not being a little bit longer now.
It's that easy. That's how easy it is.
~ David Tepper, president and founder, Appaloosa Management, CNBC's Squawk Box, September 24th, 2010
David Tepper on the risks of herd leadership
For better or for worse, we're a herd leader. We're at the head of the pack. We're one of the first-movers.
First-movers are interesting: you get to the good grass first, or sometimes the lion eats ya.
~ David Tepper, president and founder, Appaloosa Management, CNBC's Squawk Box, September 24th, 2010
First-movers are interesting: you get to the good grass first, or sometimes the lion eats ya.
~ David Tepper, president and founder, Appaloosa Management, CNBC's Squawk Box, September 24th, 2010
David Tepper on how easy it is to invest alongside government bailouts
It was easy. It was real easy. The government told you what they were gonna do. Basically, the government put out a white paper, I can't remember the exact date, in March, a Treasury paper. You can't put out a paper and say you're going to buy securities, and not buy them. Even the government has to be subject to the laws.
They told me they were going to buy Bank of America at a six-handle, they told me they were going to buy other stocks. Nobody believed them and the market kept going down-- they actually did. So what we did is we didn't just buy stocks, we bought bonds and preferred at twelve cents on the dollar, fifteen cents on the dollar, twenty cents on the dollar. Then, you know, stuff went up.
You have to believe the government's not above the law. Now, at that point and time, people were confused, they thought that... I don't know what they thought. They thought that this was, habeas corpus in the Civil War? It wasn't that bad.
You can't put things in writing and say you're going to buy at a price, and then not do it. That's securities law fraud.
~ David Tepper, president and founder, Appaloosa Management, CNBC's Squawk Box, September 24th, 2010
They told me they were going to buy Bank of America at a six-handle, they told me they were going to buy other stocks. Nobody believed them and the market kept going down-- they actually did. So what we did is we didn't just buy stocks, we bought bonds and preferred at twelve cents on the dollar, fifteen cents on the dollar, twenty cents on the dollar. Then, you know, stuff went up.
You have to believe the government's not above the law. Now, at that point and time, people were confused, they thought that... I don't know what they thought. They thought that this was, habeas corpus in the Civil War? It wasn't that bad.
You can't put things in writing and say you're going to buy at a price, and then not do it. That's securities law fraud.
~ David Tepper, president and founder, Appaloosa Management, CNBC's Squawk Box, September 24th, 2010
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