Since I’m an equities guy a few of you have asked about what I think of the US market. But I’m a nobody so here’s Mr. $3.5-billion in just last year himself, David Tepper.
Here’s a few select bits from his interview at this year’s SALT conference:
“I think we’re OK. But, listen, there’s times to make money and there’s times not to lose money. This is probably you’re supposed to think about preserving some of your money…I think you can still be long, but I think you’re supposed to have some cash now.”
He said he’s positioned low enough in exposure where he can bring it back up or down.
“I am nervous. I think it’s nervous time. I’m not saying go short. Just don’t go too friggin long.”
Then he pointed to Central Banks. “I think the ECB…they better ease in June. I don’t know how far they are behind the curve…We are a fairly leveraged world…I’m not so keen about deflationary forces.”
“I’m more worried about deflation than inflation… First of all, I don’t know how to feel it out. I’ve never lived through it.”
“If the ECB does this thing, the market’s probably OK. If they don’t do this thing, it’s not OK.”
Certainly not uplifting when one of the dominant investors of recent years sounds like he’s got little direction. But conviction to “watch out” is conviction nonetheless.
