NEWS FROM THE NERD CONFERENCE: GET NERVOUS!!!

The big thing this time of year for people in my industry, who want to network and make friends with like-minded vultures, is the SALT conference. It’s run by some nerds, on behalf of other nerds, so that a bunch of nerds can talk and feel good about themselves.

But tonight’s news is far nerdier than I expected!

Legendary hedge fund manager (come on, the guy is Boss hog of this investment racket), David Tepper, from Appaloosa Crapital, said “I think we’re OK. But, listen, there’s times to make money and there’s times not to lose money. This is probably you’re supposed to think about preserving some of your money…I think you can still be long, but I think you’re supposed to have some cash now.”

He furthered: “I am nervous. I think it’s nervous time.”

And finally: “I think the ECB…they better ease in June. I don’t know how far they are behind the curve…We are a fairly leveraged world…I’m not so keen about deflationary forces. I’m more worried about deflation than inflation. First of all, I don’t know how to feel it out.  I’ve never lived through it.If the ECB does this thing, the market’s probably OK. If they don’t do this thing, it’s no OK.”

Mr. Appaloosa was famous a few years ago for telling people to “buy anything” (something like that) in a live CNBC interview, which quickly jacked S&P futures up 10 points. I believe the market ended up 200 that day. You could scrounge around for the video on the Youtube. At the moment, I don’t feel like doing anything for you people, as I am not properly motivated or incentivized.

Oh yeah, Tepper is also famous for running $20 billion dollars.