“David Tepper, who made the most money of any hedge fund manager in 2013 at $3.5 billion, believes investors better approach the market with more caution now.
“I’m not saying go short, I’m just saying don’t be too fricking long right now,” the head of Appaloosa Management told a few thousand of his colleagues Wednesday at SkyBridge Capital’s SALT 2014 conference in Las Vegas.
Among his concerns are a deflationary environment, weaker-than-expected U.S. growth and a European Central Bank (ECB) that badly needs to ease monetary policy.
The result is a market that not that long ago was fairly easy to play but which is now getting trickier.
“Now I have a position (where) I’m long enough with exposure where I can bring it up or I can take it down,” Tepper said. “I am nervous. I think it’s nervous time.”
He is especially concerned about the ECB, which targets inflation at a lower rate than the U.S. Federal Reserve, which is looking to keep inflation below 2.5 percent.
Recent reports have indicated …”
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Very shocked CNN even published this, doesn’t really fit their “drink the coolaid” narrative.
maybe they are trying to get a little ahead of the curve…by reffering back to things like this at a later date thaey can make the coolaid more believable