Billionaire David Tepper Doubles Down on China Stocks After Stimulus Boost

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China,Stocks,Stimulus

Billionaire investor David Tepper is increasing his investments in Chinese assets after Beijing announced extensive stimulus measures exceeding expectations. Tepper, founder of Appaloosa Management, believes the shift in policy by Chinese leaders this week warrants a significant bet on Chinese stocks.

-- Billionaire investor David Tepper is buying more of “everything” related to China after Beijing rolled out sweeping stimulus measures that exceeded expectations.Tepper, who founded Appaloosa Management in 1993, attributed his big bet on Chinese assets to the shift introduced by the top leaders in Beijing this week.

“We got a little bit longer, more Chinese stocks,” he said, citing low valuations, even after this week’s price surge, as one of the reasons he’s a buyer. Before the recent rally, Tepper, along with Scion Asset Management’s Michael Burry, had been one of the few prominent China stock bulls among hedge fund investors.

 

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