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David 'Kosher Pickle' Tepper to BTV: Stock Market Not In Bubble; It's Time To Taper

Appaloosa Management's David Tepper joined Bloomberg Television's Stephanie Ruhle this afternoon, live from The Robinhood Foundation Investors Conference. Tepper said U.S. equity markets are not in a bubble, "I know there's talk about bubbles, this is not one." Tepper went on to say he is short the bond market and it's time to start tapering. Additionally, Tepper said:

  • Sees equities, GDP is going to be higher
  • U.S., Europe on firm ground
  • "Airlines are a big play"
  • Owned big percentages in airlines stocks
  • Sees gross numbers for this year "well into 40s"
  • Recently put on more of a treasury short
  • Not worried about inflation at all
  • He no longer owns JC Penney Position; JC Penney stake was more of a trade
  • He would have bought Twitter for long-term
  • Rather work at McDonald's than Bank but not at grill, because that's too hard
  • He still invests in and owns U.S and European Banks
  • Sees upside in Citibank, sees stock at $70/SHR
  • He's a democrat but would support Chris Christie
  • Taper could affect market negatively in short term

 

Courtesy of Bloomberg Television

 

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