After a period of optimism in which he almost burnt his finger, $20 billion hedge-fund company Appaloosa Management manager, David Tepper has once again returned to his cautious self.
At an investor’s conference sponsored by Robin Hood Charitable Organization on Tuesday morning Tepper gave a bearish outlook for the market. Most money managers like BlackRock’s Larry Fink and Dan Loeb are forecasting a end of the year rally but according to Tipper this cannot be guaranteed. He cautioned that it is a time to tread carefully and not be overextended with stock holdings.
Tepper’s cautious note was much akin to the stance he took at another investor conference in May when he talked about a number of macro issues which included lethargic economic growth in the US as well as lack of stimulus by European Central Bank and in China.
Tepper had warned at at the SALT conference in Las Vegas that it was “nervous time” for him in the markets, adding, “I’m not saying go short, but don’t be too frickin’ long.”cialis timing