The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat
Thursday, 19 January 2017
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Jan 23 2013 | 10:35am ET
The always-colorful David Tepper did not disappoint in a television interview yesterday.
The Appaloosa Management chief proclaimed the U.S. "on the verge of an explosion of greatness" during an appearance on Bloomberg TV's "Market Makers." The formerly hirsute Tepper said his failure to begin a Rogaine regimen earlier was his biggest regret in life. He gave host Stephanie Ruhle a Pittsburgh Steelers cap—Tepper is a Pittsburgh native and minority owner of the team. He threatened to disrobe. He discussed his career as a high-school actor and sang a few bars from his star turn, Bye, Bye Birdie. And he said he'd "rather work at McDonald's than the sell-side."
He also dealt with some matters of substance. On the U.S.'s pending "explosion of greatness," Tepper said that, in spite of the continuing economic malaise and political gridlock in Washington, there's not much to be bearish about. The "main thing right now is to be long equities," Tepper said, adding that he's "going to come out of the closet" as a market bull this year. His comment about stocks may be that coming out.
In particular, Tepper praised Citigroup, which he said has a 50% upside.
Tepper also told Ruhle that Appaloosa was up 30% last year.