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DAVID TEPPER: 'This Country Is On The Verge Of An Explosion Of Greatness'
TBI ^ | 1-22-2013 | Julia La Roche

Posted on 01/22/2013 10:47:32 AM PST by blam

DAVID TEPPER: 'This Country Is On The Verge Of An Explosion Of Greatness'

Julia La Roche
Jan. 22, 2013, 11:13 AM

David Tepper, who runs $12 billion distressed debt hedge fund Appaloosa Management, was on Bloomberg TV "Market Makers" with Stephanie Ruhle moments ago.

It was a tremendous interview and it showed a very relaxed and funny side of Tepper.

Tepper, who has one of the best long-term track records, told Bloomberg TV that his fund was up 30% in 2012.

He's said he's "going to come out of the closet" as being bullish in 2013.

The reason, he explained, is there are no major negatives and basically nothing to really be bearish about.

"This country is on the verge of an explosion of greatness," he said, "An explosion of greatness."

He said the "main thing right now is to be long equities." He said that if you're long equities, you're going to make money this year.

Tepper is long Citigroup, which is one of his fund's top holdings. He thinks Citi has a 50% upside from here due to its international business.

As an aside, he clearly had a lot of fun on set with Ruhle.

At the beginning, Tepper, who owns a 5% stake in his hometown Pittsburgh Steelers, gave her a Steelers hat. She didn't try it on. He joked that it might mess up her hair.

Speaking of jokes, Tepper was full of them today. For example, he made fun of the Bloomberg TV set for being cheap when Ruhle said she didn't make a lot of money and he also said something about how taking his clothes off would kill (snip)

(Excerpt) Read more at businessinsider.com ...


TOPICS: Extended News; News/Current Events
KEYWORDS: businessinsider; economy; hedgefunds; investing; markets; zerohedge
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"Ruhle also asked him about his "biggest regret."
He responded saying he wished he used Rogaine earlier.
Bloomberg showed images of him earlier in the segment rocking an afro in 1978. "


1 posted on 01/22/2013 10:47:37 AM PST by blam
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To: blam

He is right about one thing. The country is on the verge of an explosion.


2 posted on 01/22/2013 10:49:55 AM PST by Venturer
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To: blam
One Sentence That Explains Why Bears Are Dropping Like Flies
3 posted on 01/22/2013 10:49:55 AM PST by blam
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To: blam

“Pride goes before ... a fall.” -Proverbs 16:18


4 posted on 01/22/2013 10:52:48 AM PST by MDLION ("Trust in the Lord with all your heart" -Proverbs 3:5)
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To: blam

This is bubble talk. I’d be worried.


5 posted on 01/22/2013 10:53:21 AM PST by Huskrrrr
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To: Venturer

He is right about one thing. The country is on the verge of an explosion.


That was my identical thought when I saw the title.


6 posted on 01/22/2013 10:58:09 AM PST by The Working Man
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To: blam

Yup......$16 TRILLION in debt.....nothing to lose sleep over.


7 posted on 01/22/2013 11:01:06 AM PST by Trapped Behind Enemy Lines
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To: blam

Debt is 16 trill, but add in all unfunded liabilities and the debt is more like $115 TRILLION DOLLARS.

That’s a stack of $100 bills TWICE as high as the World Trade Center.

Explosion, indeed.


8 posted on 01/22/2013 11:03:59 AM PST by gaijin
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To: blam

Yup the Medicare grandparents will explode. The value of the dollar will implode. And us purveyors of second amendment rights are ripe to explode.


9 posted on 01/22/2013 11:06:09 AM PST by Vaquero (Don't pick a fight with an old guy. If he is too old to fight, he'll just kill you.)
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To: blam

It must be nice to be such a blooming, cock-eyed optimist.
Oh well, I can dream can’t I. s/


10 posted on 01/22/2013 11:11:10 AM PST by seenenuf ( Save the Right Supremes.)
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To: blam

TRANSLATION: “We can’t tell what the Hell is going to happen.”


11 posted on 01/22/2013 11:14:19 AM PST by E. Pluribus Unum (TYRANNY: When the people fear the politicians. LIBERTY: When the politicians fear the people.)
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To: blam
If he's thinking Obama will implode, he's right...the stock market will go up.

This is what happened in O's first term. When he DIDN'T get his main initiatives through (no cap and trade, continued fighting the Bush wars, etc.) the stock market improved.

The markets like a weak Obama.

12 posted on 01/22/2013 11:14:43 AM PST by what's up
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To: blam

He may be right. The average US worker’s wages and standard of living have been cut to a quarter of what it was twenty years ago. We’re “competitive” now. That, fracking, and the rest of the world collapsing, who knows. All we have to do is go down the drain slower than the rest of the world, and we’ll have a boom.


13 posted on 01/22/2013 11:15:05 AM PST by Born to Conserve
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To: blam
'This Country Is On The Verge Of An Explosion Of Greatness'

No, we're on the verge of a $1 Quadrillion derivatives explosion and a bond market crash. Our money has been so watered down by massive printing (to create the illusion the economy is doing just fine under Oboma), the cost of food is going to double, to say the least.
When they start offering money for silver like they did gold (to get it out of the citizens hands), and the gold and silver markets move all over the place, we'll know we've slipped over the cliff.

The left thinks world wide mutual destruction is a good thing, as if they'll be able to come in as the saviors to save us all afterwards.
Tust me, the people of the world are NOT going to look favorably on the worlds control freak politicians. They're the ones that manufactured the crises for their own enrichment and power. People aren't going to want to be BFF with these guys!!!

14 posted on 01/22/2013 11:15:23 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: blam

That Tepper interview was fantastic. Just hilarious. To put it in perspective he was commenting about being long in equities as the credit markets are just about “full” with money from the QE actions across the globe (BOJ announced a new one last night). Money has left equities over the last 2 years and gone into credit markets (look at the near record lows in UST’s). He’s expecting equities to fill the hole as “typical risk averse assets are topping”. He was making a comparison of US markets versus the rest of the world. The guy is very, very, very good at what he does.


15 posted on 01/22/2013 11:15:26 AM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: seenenuf

Picture looks like Rick on “Pawn Stars”? I suppose a hedge fund is like a pawn shop.


16 posted on 01/22/2013 11:16:43 AM PST by damper99
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To: Venturer

This country is on the verge of an implosion...


17 posted on 01/22/2013 11:17:29 AM PST by doomtrooper99 (Mitt is getting army behind him)
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To: seenenuf
It must be nice to be such a blooming, cock-eyed optimist. Oh well, I can dream can’t I. s/

LMAO! You must not know anything about Tepper to think he is a "cock-eyed optimist."

18 posted on 01/22/2013 11:18:01 AM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: blam

Got news for you Dave, this country is way down a slippery slope to oblivion.


19 posted on 01/22/2013 11:18:34 AM PST by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: Vaquero
"Yup the Medicare grandparents will explode. The value of the dollar will implode. And us purveyors of second amendment rights are ripe to explode."

The Worldwide Demographic Cliff Is Going To Be Brutal

20 posted on 01/22/2013 11:21:15 AM PST by blam
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