Bloomberg Profiles David Tepper

Bloomberg profiles hedge fund manager David Tepper who make a few billion dollars last year betting that the world was not, in fact, coming to an end.

“It was crazy,” says Tepper, a Pittsburgh native. “In February and early March, people were in a panic.”
Appaloosa began scooping up bank-related securities, including common and preferred shares and junior subordinated debt. The Short Hills, New Jersey-based hedge fund firm bought into Bank of America, Citigroup, Fifth Third Bancorp and SunTrust Banks Inc. Tepper also bought the bonds of New York- based American International Group Inc., Frankfurt-based Commerzbank AG and London-based Lloyds Banking Group Plc, paying as little as a nickel on the dollar.

Posted by on January 5th, 2010 at 8:31 am


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