David Tepper is on CNBC today attempting to save the markets from the wrath of the bears. You can all thank yours truly for making this happen……………..
Can we get Tepper on Squawk tomorrow? @WallStManeet asking for a friend….
— Jacob Wolinsky (@JacobWolinsky) June 19, 2013
@JacobWolinsky he’s considering
— Maneet Ahuja (@WallStManeet) June 19, 2013
Thanks to @WallStManeet for wrangling David Tepper for us this morning!
— Becky Quick (@beckyquickcnbc) June 21, 2013
And once more a big thank you to me!S&P 500 is up 0.50% in the premarket.
A big thanks to @WallStManeet for getting Tepper on Squawk and saving all our portfolios
— Jacob Wolinsky (@JacobWolinsky) June 21, 2013
David Tepper says dont fear the taper on this CNBC interview. Tepper says “All the concern in the markets is because the Fed sees the economy stronger in the future.” “Bonds are concerned about the strength, the 10 year bond at 2.4 or even at 3 percent if it’s because of strength is ultimately healthy. I obviously thought they should start to taper. Bottom line when the dust settles only one place to be STOCKS. ”
David Tepper Video Interview And Computer Transcript Below
hopefully, we’re going to add the ten year for you are to watch. that was alan greenspan request from us. it dated between 1.8. two years it stayed there now do we not need to see it? no more consequential number out there. let’s take a look at u.s. equities futures at this hour. it’s been a bounce back. remember the number 560 is what we lost the previous two sessions. 560 dow points and now we’re looking at least at 90 up 100 or so. you might recall david tepper of appaloosa. a great record over the last 20 years, he joined us on squawk last month to sort of update us on what s years ago before the market moved this much this is what he said to us that day. if there is a true taper, there better be a true taper or else you are in the last top of ’99. so guys that are short, they better have a shovel to get themselves out of the grave. in the last couple sessions, people have tweeted us. who are reshoveling with that shovel? it was about 15 tough. when he said that, it ran up to about 15.5. now we’re below that and he is you might wonder what he is saying today. he is correspondg, sharing his opinions on the fed action and what happened with the smashing, what happened with the ten year, here’s what he said this morning. all the concern in the market is because the fed sees the economy actually stronger in the future. i’m glad liesman is here for this. whether they taper or not, they won’t tell you when they’re going to do it. people were watching closely to see what they said about the underlying economy, right, to see if nay upgraded their opinion on that. would you say it’s fair to say, steve, they moved their bar down from 6.5 to 6 when they raised rates? i have been trying to sigh that a while t. fed has been –. listening? you said it like him this. e finish. the bond market is concerned about the economy. not the fed is losing control but the bonds are going down and up because of strength and at a ten year 2.4 or 3 because constraints, that’s healthy in the long run. i obviously thought he would have liked them to start tapering immediately. the bottom line is when the dust settles, the only place to be is stocks. we are down 2% yesterday. all 30 down. you disagree with term, i need to see your 20-year performance in managing money. it is ev dent by the fact that i’m still sitting here. like 20 year, i wouldn’t be here that’s what’s clear. i would like for what david said to be true. yep. i’m not sure it is. exactly. why did the bond yields rise so much and it could be because there is better economic strength expected. but how would you know that that’s different, joe, from the idea that the fed is expected now to boy less? all right. so there’s those two things. now, what to square what david is saying. maybe he’s saying they’re going to by less because they expect the economy to be stronger, except they downdpraded the gdp. i want to share with you. have you seen this yet? he’s been out with dissent. ys, if you can scroll up so i can read these headlines here, he is saying the fed failed to really follow itsnflation forecast. it strongly signaled the inflation target. inflation is surprised to the downside to maintain credibility, i like the fact the deshields is agreeing out of the corner of my eye. he makes a lot of move. perfect. lots going on. he travels a lot. he is saying one of two guys dissented. the fed must defend the target above or below. it was inappropriately tied. i talked to other guys who said why would the fed say this when it had what it wanted in terms of market expectation. then i talked to drew matis this morning. he said what the fed did is tell the mark it’s on auto pilot. that it kind of got aw from. datadependent? calendar, data dependent. you know what, we will do this anyway. this is leading. isn’t that scary? hold on. no, because the yellens thought more dovish. can i take on this idea of auto pilot? right. i don’t think it suggests they were. he said over and over again, if then when? it’s all about the data. can i scroll ahead one more time? you want to come back. . okay. . if you look at the inflation the treasury inflation protected securities marketment after that statement and for the past three months, what the belief is, is that the fed will not by a come dative. what’s happening is in the shortened, inflation expectations have been crushed in the zero to two years. people now believe inflation for the next two years will be under 1% what does that tell you, that the fed will be accommodatef — accommodative? what is going on? in the shortened, inflation has gotten crushed. in the longer the, there has been modest, not huge. in the long end, there have been increases in big yield the market is saying they don’t think the fed rb accommodation. in the long end of the inflation markets, you see real yields going up. in the shortened, the actions in the near term will be reductions in inflation. can’t be consistent with the accommodation. to summarize, you are saying the market believes they wering 2:31 when the press conference began the fed was going to be tiert that it believed at 2.21. there is a sense accommodation came out. even while