On CNBC this morning, he revealed that he's still bullish on
stocks, and not at all worried about what the Fed is doing. He thinks the
stocks are cheap, and helped by monetary easing, but that there's nothing to
worry about with regards to the Fed "tapering" of QE.
Basically, it's a big advantage for Tepper that he's a
Democrat. What? Here let's explain...
In recent years, a lot of Republicans have become
"policy bears", people who are convinced that Fed/government
involvement in the economy is sure to end in disaster. Rick Santelli is the foremost "policy
bear" that you regularly see in the media, but as we saw recently at last
week's hedge fund conferences, a lot of the big names in the industry like Paul
Singer, Stan Druckenmiller, and Kyle Bass are policy bears as well.
Their conservative view of the world has manifested itself,
post-crisis, in Fed hate, and a lack of inclination to just ride the great
bullish market wave that we've seen since 2009.
Tepper is clearly not afflicted by Policy Bearism at all. The Fed
doesn't make him raging mad. He doesn't talk about how the Fed is distorting
markets beyond all recognition, and how it will end in disaster. He sees the Fed
helping the economy, and he buys stocks, and he doesn't get worried about it. Later, things will change..
Read more about this at http://www.businessinsider.com/david-tepper-democrat-2013-5
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