Friday, 30 January 2015
Last updated 1 hour ago
Jun 6 2014 | 10:05am ET
David Tepper is ready to be friggin’ long again.
The Appaloosa Management chief told CNBC yesterday that the European Central Bank’s moves this week, including a negative interest rate on deposits, had “alleviated” his concerns about stocks. At last month’s SkyBridge Alternatives Conference, Tepper said he was “nervous,” and warned investors not to be “too friggin’ long.”
“They’re waiting, waiting, waiting,” Tepper said. “The EVC better ease in June. I’m nervous.”
Yesterday, the bank complied with Tepper’s request, cutting interest rates to just 0.15%, with the effect of pushing deposit rates into negative territory, an unprecedented move.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…