Tuesday, 1 September 2015
Last updated 1 hour ago
Aug 6 2013 | 1:06pm ET
Appaloosa Management is celebrating its 20th anniversary in much the same way it's spent the last two decades: with a triumphal investor letter.
The Short Hills, N.J.-based hedge told clients that it returned 17% in the first half, Bloomberg News reports. Appaloosa has posted annualized returns of 28% since inception.
In the letter, firm founder David Tepper said that $1 million invested with Appaloosa at the beginning, in 1993, would be $149 million today. Appaloosa celebrated the milestone last month.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…