Saturday, 10 October 2015
Last updated 12 hours 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.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…