Monday, December 17, 2012

David Tepper: 'Pretty Good Economy, Right Now'

David Tepper of Appaloosa Management, says the question you have to ask is what happens with the Fed when the unemployment rate comes down. They'll keep doing what they're doing till that happens, he adds.
"I've got an economy that has tailwinds -- housing, auto. And, it's a growing economy. And now I'm going to put a trillion dollars a year by the Fed ... Look at the united states of america. Looking at the LDP that got elected. Everybody knows that Japan is going to kind of pump it up starting in March/April. An ECB that has given you two different things and people only read one thing. they gave you the put with the OMT with Spain but they gave you a second put ... the second piece was when they ... didn't lower interest rates this time ... Basically you're in this situation, whenever Draghi wants to lower interest rates in Europe, he can do it."

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