David Tepper, Appaloosa Management founder & CIO, explains why he is definitely “bullish” on the stock market. “The numbers are truly amazing,” he added. David Tepper was on CNBC this morning discussing his views on stocks and his lukewarm videos on Apple.

david tepper Top Earning hedge fund managers in 2012

David Tepper CNBC interview videos and transcript below

H/T Value Investing World

i’m definitely bullish. look, ever see the movie cousin vinnie? i did. years ago. when i was a yute. so there’s this moment at the end of the move where where he is making the case, summing it up. he sums up so many different things that the prosecution says, case dismissed. because the evidence is so overwhelming. kind of like that right now. it’s so overwhelming. autos are better, housing is better. continuing to improve. the fed, well, before we get to the fed, australia just eased, japan, korea. these united states of america, we just are just amazed at the way these numbers work. as we go out further. so really on the tv, on your show and others, there’s been talk about tapering. right. tapering back to fed. so the market is worried about tapering. the numbers are quite amazing. just truly amazing. the fed is going to purchase $85 billion of treasuries and mortgages a month. it is over a trillion. so over 500 in six months. what’s happened and what’s really mazing is that if you look at the incomes the next six months because of tax increases, budget cuts, growth in the economy and fannie mae and freddie mac pwaeug back, the deficit is shrinking. this is something we can hopefully at least work on now. and i have the numbers. the next six mos def sit will be well under 100. probably closer to 85. which means — this is an important thing. for those people who say we have been financing the deficit, we really have — the fed will never say that. this is a pretty big issue. we have over $500 billion we’re going to buy over the next six months. now we only have a deficit less than 100 the next six months. the net issuance versus refunding is a little over 100. that means we have 400 billion, 400 billion that has to be made up. so basically think about this. that’s being taken out of the market, out of the bond market. 400 billion is now in your hands, my hands and other folks’s hands. and there’s a few choices. it either has to go in the economy, which, you know, it probably will go somewhat in the economy. it has to go to the short end of the curve trade better. we have this cess. or it has to make stocks trade higher. w, the problem is you might be worried some of that might go into the economy and, you know, it might stimulate with a little bit of surge. basically, afterwards, we also have to cut back because the deficits in the future will be less than this trillion dollars. so if we don’t taper back we will get into this hyper drive market. it’s backwards. the fed has to taper back. because if you look at the numbers, it’s so tremendous, these numbers are so tremendous that you can have the market in

nespresso. what else? this is in addition to your exclusive story. david tepper was ranked number one hedge fund earner. we don’t need to worry about, you know, that you made $2.2 billion. which is nice. you had a great return. all right. on september 24th, 2010 you basically said either the economy is going to improve and stocks are going to go up, or the fed is going to make sure the economy improves and stocks are going to go up. we’re up almost 50% from when you said that. i would just as an opening question i would say from here either the economy has improved and is going to continue to improve, or the fed is going to continue what it’s doing to make sure it improves. i don’t see why this is different or why you should be less bullish. are you still bullish? sure. yeah. i’m definitely bullish. look, ever see the movie cousin vinnie? i did. years ago. when i was a yute. so there’s this moment at the end of the move where where he is making the case, summing it up. he sums up so many different things that the prosecution says, case dismissed. because the evidence is so overwhelming. kind of like that right now. it’s so overwhelming. autos are better, housing is better. continuing to improve. the fed, well, before we get to the fed, australia just eased, japan, korea. these united states of america, we just are just amazed at the way these numbers work. as we go out further. so really on the tv, on your show and others, there’s been talk about tapering. right. tapering back to fed. so the market is worried about tapering. the numbers are quite amazing. just truly amazing. the fed is going to purchase $85 billion of treasuries and mortgages a month. it is over a trillion. so over 500 in six months. what’s happened and what’s really mazing is that if you look at the incomes the next six months because of tax increases, budget cuts, growth in the economy and fannie mae and freddie mac pwaeug back, the deficit is shrinking. this is something we can hopefully at least work on now. and i have the numbers. the next six mos def sit will be well under 100. probably closer to 85. which means — this is an important thing. for those people who say we have been financing the deficit, we really have — the fed will never say that. this is a pretty big issue. we have over $500 billion we’re going to buy over the next six months. now we only have a deficit less than 100 the next six months. the net issuance versus refunding is a little over 100.

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