Tepper Says ECB Moves Have ‘Alleviated’ His Fears

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.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of