Appaloosa Management’s David Tepper joined Bloomberg Television’s Stephanie Ruhle this afternoon, live from The Robin hood Foundation Investors Conference. Tepper said U.S. equity markets are not in a bubble, “I know there’s talk about bubbles, this is not one.” Tepper went on to say he is short the bond market and it’s time to start tapering. Additionally, Tepper said:
– Sees equities, GDP is going to be higher
– U.S., Europe on firm ground
– “Airlines are a big play”
– Owned big percentages in airlines stocks
– Sees gross numbers for this year “well into 40s”
– Recently put on more of a treasury short
– Not worried about inflation at all
– He no longer owns J.C. Penney Company, Inc. (NYSE:JCP) Position; JC Penney stake was more of a trade
– He would have bought Twitter for long-term
– Rather work at McDonald’s than Bank but not at grill, because that’s too hard
– He still invests in and owns U.S and European Banks
– Sees upside in Citigroup Inc (NYSE:C), sees stock at $70/SHR
– He’s a democrat but would support Chris Christie
– Taper could affect market negatively in short term
