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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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To: 9YearLurker

He did say that he thought CITI has “50% upside from here”. He is also invested in GM which is another bailout firm. David Einhorn also has made a killing on GM.


41 posted on 01/22/2013 2:01:07 PM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: 9YearLurker

>> “If you were able to make a billion a year on distressed debt, you might be an optimist on this economy as well.” <<

.
Of course most would call him a racketeer rather than an optimist...


42 posted on 01/22/2013 2:03:16 PM PST by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: MrB

>> “then they shut off the lights leaving you with a bunch of worthless plastic chips.” <<

.
Precisely my way of thinking.

Put these immoral opportunists in the cooler where they belong.


43 posted on 01/22/2013 2:06:12 PM PST by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: blam

This country is always on the verge or greatness.

Now and then, we actually achieve it.

Being on the verge of greatness is nothing.

0bama will pull us back to mediocrity and further into abject failure.

0bama lied, millions will die.
http://www.breitbart.com/Big-Peace/2013/01/22/Obama-Peace-in-Our-Time


44 posted on 01/22/2013 2:25:18 PM PST by Only1choice____Freedom (As long as America's tolerence of failure is not overwhelmed by a desire to succeed, we will fail.)
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To: Venturer
So long as the various(gov./business)Ponzi schemes keep pulling in "investors"...I believe him.

(derivatives...shhhh)

(CDO's...shhhh)

(employment prospects...shhhh)

(mortgage/title fraud...shhh)

...or as the late J. Bruce Ismay(White Star Line)might say..."full speed ahead! WOOHOO!"

45 posted on 01/22/2013 3:26:04 PM PST by RckyRaCoCo (Shall Not Be Infringed)
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To: blam

Explosion? I guess he’s a zit. Get it.


46 posted on 01/22/2013 3:43:33 PM PST by grumpygresh (Democrats delenda est.)
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To: editor-surveyor
Put these immoral opportunists in the cooler where they belong.

So investing is now "immoral opportunism"... fascinating that this is being said on a supposedly conservative website. This thread is a hell of a lot like the Occupy Wall Street freaks.

47 posted on 01/23/2013 12:02:45 PM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: blam

bookmark


48 posted on 01/23/2013 12:11:00 PM PST by PatriotGirl827 (O Mary, conceived without sin, pray for us who have recourse to thee)
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To: Wyatt's Torch

“pump and dump” is OK with you then?

Someone giving “financial advice” to his own advantage and your detriment is OK?


49 posted on 01/23/2013 12:13:19 PM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: MrB

Once again, if you think Tepper is a “pump and dump” guy then you are completely clueless about him.


50 posted on 01/23/2013 12:52:28 PM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Trapped Behind Enemy Lines

$16 trillion, and climbing by a trillion a year.


51 posted on 01/23/2013 2:21:14 PM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: Wyatt's Torch

Selling worthless paper is not investing; its crime.

How do you think the banks got so deep in toxic debt?


52 posted on 01/23/2013 2:41:39 PM PST by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: Trapped Behind Enemy Lines

The total sovereign debt, including states, cities and special districts (schools, water, power, sewers) is over 46 trillion, and climbing fast.


53 posted on 01/23/2013 3:16:24 PM PST by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: editor-surveyor

LMFAO that you think Tepper is sell side. It is painfully obvious that there are a ton of absolutely clueless people in this thread when it comes to finance. The level of understanding of economics and finance is frankly quite poor on FR. Sad to see as it didn’t used to be that way.


54 posted on 01/23/2013 5:21:04 PM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Wyatt's Torch

Damn you’re stupid!

I’m talking about the whole toxic debt industry. Every one of them belong in solitary confinement for life.


55 posted on 01/23/2013 6:55:09 PM PST by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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