DAVID TEPPER: If You Invested $US1 Million In My Hedge Fund In 1993 You Would Have $US149 Million Today

DavidTepper
, who has been running distressed debt hedge fund Appaloosa Management for the past 20 years, is crushing it this year.
According to CNBC’s Scott Wapner, he’s up 23.4% net of fees year-to-date.

Meanwhile, the S&P is up about 19.7% this year.

Tepper was up 5.5% in July net of fees.

He’s still bullish on stocks.

He told Wapner that he finds them “reasonable” and that he’s still long.

Earlier this year, he was super bullish, though. He told Bloomberg TV’s Stephanie Ruhle back in January that the U.S. was on “the verge of an explosion of greatness.”

Also, Tepper, who has one of the best long-term track records, pointed out in his July investor letter, which was first reported by Institutional Investor, that if you invested $US1 million with him in 1993 and didn’t pull out you would have around $US149 million.

By the way, Tepper told Ruhle during lunch today that he’d be staying out of the whole Herbalife debacle. Leave that for the other titans.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.