David Tepper shuns stock market: ‘Sometimes there’s times to make money … sometimes there’s times not to lose money’
David Tepper, billionaire investor and one of the world’s top hedge-fund managers, isn’t a fan of the stock market, right now.
“‘Sometimes there’s times to make money…sometimes there’s times not to lose money.’”
That is what the founder of hedge-fund Appaloosa Management told CNBC in a Friday interview, with U.S. stocks slipping lower, as the prominent investor spoke.
“I don’t think it’s a great investment,” Tepper told the business network, referring to his view on the stock market, with the Dow Jones Industrial Average DJIA,
“I just don’t know how interest rates are going to behave next year,” Tepper added. “I don’t think there’s any great asset classes right now,” said the owner of the National Football League’s Carolina Panthers.
Tepper said that he didn’t “love stocks. I don’t love bonds. I don’t love junk bonds,” referring to markets he felt were overvalued.
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Tepper said that investors should remain invested for the long term but, for his part, he was taking a pause.
“My exposure’s not high right now,” he said of his position in financial markets. Tepper’s net worth is $15.8 billion, according to Forbes.
Tepper, who founded Appaloosa Management in 1993, has one of the strongest track records among active investors, and his remarks often move markets.
