As noted yesterday, David Tepper is coming back to CNBC this Friday, in what many expect will be a reprise of his September appearance which was one of many events to unleash the buying spirits and save the year for so many Hodge funds loaded with financial stocks (we eagerly await February 15 to get the latest round of 13F and uncover just how many of the biggest financial "bulls" used the Q4 rally to dump). It appears, however, that this time around Tepper will not be dispensing with his usual POMO-inspired exuberance. In an interview with the Post, Tepper, who from media shy has become just a "little" overexposed, says that 2011 will be "harder and not without risk." Will this be the top-tick event of the market's recent and relentless bear market melt up?
From the NY Post:
Hedge fund honcho David Tepper, who helped rally sagging markets last year with his bullish comments on stocks, is more cautious this year.
In an interview with The Post, Tepper said while "the biggest opportunities" will remain in equities, 2011 will be "harder and not without risk."
"When things go up too high, they will go down," Tepper said, referring to the recent market surge, which saw the S&P 500 close the year up 13 percent, in line with his prediction.
Last September, the founder of $15 billion hedge fund Appaloosa Management injected optimism into an otherwise downbeat stock market when he told CNBC that government intervention in the financial markets virtually guaranteed a rally.