Economics
Appaloosa’s Tepper Says Hold Cash as Markets ‘Dangerous’
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David Tepper, founder of $20 billion hedge-fund firm Appaloosa Management LP, said he’s “nervous” about financial markets because the economy isn’t expanding at a sufficient pace.
Investors should hold cash and focus on avoiding losses, rather than making profits, Tepper said yesterday at the SkyBridge Alternatives Conference in Las Vegas. While Tepper said he wasn’t recommending that investors bet against assets, they shouldn’t be too optimistic either.