Hedge fund manager David Tepper’s call on CNBC last September that equities would rally was spot on.At the time, Ben Bernanke had just announced another round of quantitative easing in August. Then in the months following QE and Tepper’s call, there was a fantastic market rally (which no doubt helped Tepper crush it last year).
Now bearishness is creeping back and everyone is wondering, will there be another round of stimulus?
Tepper told CNBC’s Becky Quick this morning, saying that there will be no QE3.
“There is no QE3 coming down the pike,” he told Quick. It makes for a “difficult investing environment.”
(He wasn’t actually on CNBC, by the way, but he spoke to Quick.)
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