Hedge fund manager David Tepper’s calls on the market have been confusing, to say the least. In May he said “Don’t be too frickin’ long, ” on stocks, last week he said the market was going to shake like it was 1999, and now he thinks 2015 will be a very good year, as reported by CNBC.
While he thinks the S&P 500 is “fairly valued” Tepper predicts stocks could rise 8 to 10% from the current level. Back when Tepper said “don’t be too frickin’ long” he was 70-80% positioned long in his fund. When asked what his next move will be, he said, “longer, ” and added, “It’s not the time to be careful now. Enjoy the ride … the ride hasn’t started yet. ”
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Tepper’s Appaloosa Management faced headwinds this year but was up, according to Tepper. While he worries about the ruble and prospects in Europe, he sounded upbeat and confident about the U.S. stock market.
