Photo: Bloomberg TV screengrab
Billionaire hedge fund manager David Tepper is still extremely bullish and he thinks the S&P could rise 20 per cent or more this year, CNBC’s Kate Kelly reported on “Halftime Report” citing an unnamed source familiar with his thinking.Tepper, the founder of $12 billion-distressed-debt hedge fund Appaloosa Management, doesn’t see much more than short term volatility, Kelly said.
She added that he’s surprised that the year-to-date hasn’t been stronger, according to a source familiar with Tepper’s thinking.
Tepper also sees real GDP growth of 2.25% and a lot of cash on the sidelines.
Tepper has a track record for being one of the best performing hedge fund managers on the Street. So far this year, he’s up more than 10%. February was flat for Tepper, according to Kelly.
Back in January, Tepper told Bloomberg TV’s Stephanie Ruhle that he was going to “come out of the closet” as being bullish in 2013.
His reasoning was that there there were no major negatives and basically nothing to really be bearish about.
“This country is on the verge of an explosion of greatness,” he told Bloomberg TV, “An explosion of greatness.”
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