David Tepper is bearish on the stock market right now because it's rare to have global central banks all tightening at the same time. "I'm leaning short on the equity markets," the founder of Appaloosa Management said in an interview with CNBC's " Squawk Box " Thursday. "The upside/downside just doesn't make sense to me when I have so many … central banks telling me what they are going to do.
The Federal Reserve , which raised rates by another 50 basis points last week, has indicated it will continue hiking rates through next year, with no reductions until 2024. The European Central Bank has also said it sees significant rate increases ahead. Bank of England has also been hiking rates, with officials signaling more may be on the horizon.
SEC needs to look into whether such market moving public statements by mega fund managers are self-serving. You go short and then make the announcement thereby moving the markets in favorable direction.
Did they ask him about this?
Boycott Tesla
Makes sense to expect more sideways/downward price action in the short to mid term. FED looking for another rate bump, uncertainty in energy markets, etc. There's pronounced risk right now so buy demand is weak.
David still owes my brother poker winnings from a game in Cleveland,Ohio in 1984
Will he come on TV before he closes his shorts?
He is hoping to manipulate the market while volumes are low and his opinion might have an impact.
Dude has more important things to worry about. Like hiring a head coach and finding a franchise QB. Way more important than this other stuff.