I didn't even know who this guy was until he came on CNBC last fall, and called for the market to keep rallying. Anyway, he's still bullish, but less than before. So I can go ahead and buy now? Yeah right. In this business, you can never rely on tips, or other's advice. You've got to make your own choices. I think the market will keep going higher, confounding a lot of people, but it won't be because of people like David Tepper being bullish. We're in a bull market and the economy is still improving with many job gains ahead.
We still haven't got that blow out jobs report that makes everyone excited. ADP has, but not nonfarm payrolls. When we get a few of those, then I'll be more willing to look at the dark side.
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7 comments:
Covered SFI @ 8.08, short from 7.89 (-4%)
Long HDY @ 5.03
Long LPHI @ 11.85
OL DAWG
David Tepper is a guy who graduated from Carnegie Mellons. He used to be a manager for a junk bond hedge fund. I still think he is and then of course he got long all this stock in 2009. A few years ago he donated 50 mln to Carnegie Mellons Business School and now the CMU MBA is called the Tepper MBA. He's a very common sense blue collar kind of guy. I would consider him the vanguard of the new trading wizards. He's the Soros, Robertson and even PTJ of this era, along with Paulson and Ol Dawg
Long BRN @ 5.46
Ol DAWG
Short BLTI @ 3.24
OL DAWG
good thing for qe2. or tepper would be flipping burgers at mcdonalds now.
Sold HDY @ 5.57 (+11%)
CASH MONEY PLAYA
OL DAWG
Actually QE1 bailed out Tepper and his longs. He has been a big beneficiary from all the rate cuts and money printing.
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