David Tepper, who runs a $12 billion distressed-debt hedge fund, Appaloosa Management, emailed in some comments to CNBC’s “Squawk Box” this morning after global markets got crushed yesterday.
“All of the concern in the markets is because the Fed sees the economy stronger in the future,” Tepper wrote adding that the Fed’s forecast shows that they will wait for a lower unemployment rate to raise interest rates.
He added that he thought that the Fed should start to taper.
“Bottom line: When the dust settles only one place to be —— STOCKS.”
This is right in line with his previous comments. Tepper has been bullish on equities for a while now.
Tepper, who has one of the best long-term track records and was up 30% in 2012, came out earlier this year as being super bullish. He told Bloomberg TV back in January that the U.S. was on “the verge of an explosion of greatness.”
Just last month, he continued to make a bullish case for stocks on CNBC.
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