David Tepper Is "Balls To The Wall" Long (But Unlevered) The Fed

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Fri, 09/24/2010 - 09:51 | 602129 43 Steelie
43 Steelie's picture

Thanks for posting this. I was laughing the entire time while watching this morning.

If I was one of his investors I'd take my profits and withdraw every dollar I had invested with him today.

Sat, 09/25/2010 - 09:41 | 604194 tlil5774
tlil5774's picture

Wow - it doesn't get much more disrespectful than that.........

Fri, 09/24/2010 - 09:50 | 602132 forgetalpha
forgetalpha's picture

Call him childish, but that child made over a billion last year

Fri, 09/24/2010 - 09:56 | 602156 LeBalance
LeBalance's picture

with analytical ability like his how do you suppose he made $1B last year?  Little kleptocratic boys' club?

Fri, 09/24/2010 - 09:59 | 602168 eigenvalue
eigenvalue's picture

Mr Madoff also made loads of money before he went behind bars.

Fri, 09/24/2010 - 10:23 | 602290 wolfsonite
wolfsonite's picture

+100

Fri, 09/24/2010 - 12:23 | 602739 DaveyJones
DaveyJones's picture

one down, 1500 to go.

Fri, 09/24/2010 - 13:39 | 602908 forgetalpha
forgetalpha's picture

The problem with so many readers on this site is that they are so self involved and absorbed that can't see the fact they just missed out on a bull run up in stocks (secular, cyclical, or completely make believe, who cares). In my comment I never mentioned anything about the structural macro structure of the global economy, or anything of that matter.

Again, you may knock his analytical thinking, however did your superior market analysis yield near 100% returns last year. If so, good for you, if not, then stop whining and saying everyone else is wrong when clearly you have been proven wrong. The stock market is the ultimate meritocracy, zero sum, you win or lose, that's it. It doesn't matter how intellectually sound your reasoning is, as long as you have consistent risk adjusted returns, then you win.

 

Piece of advice, everyone has to stop whining and start seeing past their own biases.

Fri, 09/24/2010 - 18:10 | 603572 DaveyJones
DaveyJones's picture

My comment has nothing to do with your analytical abilities which I am certain are superior to mine. It has to do with whether or not a number of criminal schemes have been revealed and whether they continue in this so called free market system. Your or anyone else's ability to make money in it are irrelevant to that. I apologize for being absorbed or self absorbed with that issue. Last time I checked, a number of people share this concern 

Fri, 09/24/2010 - 10:21 | 602275 SteveNYC
SteveNYC's picture

From the Fed's printing press to Tepper's pocket, you bet! Dilute a piece of every US Dollar in existence, and line the pockets of these fucks. Why not?

Fri, 09/24/2010 - 11:17 | 602537 Douglasnew
Douglasnew's picture

Klepper will be right until he is wrong at which time he will say that he can not possibly be held personally responsible for such a far reaching cumulative meltdown. He has his Billion and will keep his Billion while using OPM until the cows come home. That is why he is so bubbly happy VERKLEMPT!

Fri, 09/24/2010 - 11:41 | 602631 Saxxon
Saxxon's picture

+1 forgetalpha.  How did your factual message get junked x2?

The name of the game is making $ not being right.  Or said another way, if you are making $ you are right.

Fri, 09/24/2010 - 15:20 | 603161 justcurious
justcurious's picture

Exactly!! He didn't get bailed out. He just had the gall to go long all financials when everyone was shit scared.

Fri, 09/24/2010 - 09:51 | 602137 chistletoe
chistletoe's picture

Going forward from here,

you may find that stocks of companies which have large assets in the ground,

such as Suncor, Consol Energy, and Cameco,

will do as well or better than even gold mines ...

Fri, 09/24/2010 - 09:52 | 602141 Boilermaker
Boilermaker's picture

He's basically right.  The stock market has just become a vehicle to further enrich the rich.  It's nothing more than a mechanism to do so now.

Fri, 09/24/2010 - 09:59 | 602169 docj
docj's picture

Yep - the oligarchs buy up a couple more islands while the rest of us get shot rioting in bread lines.

All so a bunch of banksters and fraudsters (but I repeat myself) don't have to take a haircut on their bad bets.

Awesome.

Fri, 09/24/2010 - 10:02 | 602180 Bankster T Cubed
Bankster T Cubed's picture

yep

Fri, 09/24/2010 - 10:02 | 602151 Village Idiot
Village Idiot's picture

Haines just had a young man on who says that, "the market isn't the econonomy."  He's trading the market.

Fri, 09/24/2010 - 09:56 | 602155 frankTHE COIN
frankTHE COIN's picture

Tepper is banking on Scotty to beam him and stocks up.

Fri, 09/24/2010 - 09:57 | 602160 Kina
Kina's picture

Who needs an economy anyway. If the Fed can print up the market we can get rich to infinity without any economy.

Fri, 09/24/2010 - 10:05 | 602188 truont
truont's picture

Indeed!  Here is a picture of a billionaire in Africa, a beneficiary of the visionary Keynesian monetary leadership:

http://www.kandle.ie/wp-content/uploads/2008/10/zimbabwe_billionaire.jpg

Fri, 09/24/2010 - 10:13 | 602233 kaiserhoff
kaiserhoff's picture

+1000   We needed that.

Fri, 09/24/2010 - 10:19 | 602265 gmrpeabody
gmrpeabody's picture

LOL

At least he can smile.

Sat, 09/25/2010 - 00:17 | 604031 RockyRacoon
RockyRacoon's picture

He stole the sign from someone else after stabbing him in the neck with a piece of broken glass.  Same thing happening here but with more subtle weapons.

Fri, 09/24/2010 - 09:59 | 602162 truont
truont's picture

Tyler is spot on:  "we are now in a new regime, where gold benefits more than stocks on further currency devaluation. Period."

One caveat though:  shares of gold/silver mining companies will also benefit from central bank currency raping.  So you paperbugs who sneer at gold as an investment, go for gold stocks instead.

Fri, 09/24/2010 - 10:07 | 602199 ZackLo
ZackLo's picture

gold basically can only go up unless bernanke wants to hike interest rates and bankrupt us all over night.

 

Fri, 09/24/2010 - 10:12 | 602219 breezer1
breezer1's picture

raise interest rates would bankrupt the government.

Fri, 09/24/2010 - 10:13 | 602230 truont
truont's picture

Yup, and what are the chances of that?  1%. 

What are the chances Benny will keep monetizing CONgress's debt?  99%.

Place your bets on the table, please....

Fri, 09/24/2010 - 10:26 | 602308 Snidley Whipsnae
Snidley Whipsnae's picture

Astute observation. +++ If the Fed holds down rates, lets dollar continue to sink, gold will continue to go up in dollars.

The Fed is between a rock and a hard place now...and we saw this coming long ago.

Will they do another large QE and totally wreck the dollar?

Fri, 09/24/2010 - 11:49 | 602642 DaveyJones
DaveyJones's picture

caught between a pyramid scheme and a hard place and we're the slaves who have to push it. Hey Moses, can you cut this cord before it crushes me? 

Fri, 09/24/2010 - 10:13 | 602232 Kina
Kina's picture

Funny you should say that. Just got into to three gold miners yesterday and another one today.

Fri, 09/24/2010 - 10:15 | 602243 SRV - ES339
SRV - ES339's picture

So you paperbugs who sneer at gold as an investment, go for gold stocks instead.

If you'd rather not take the time to research individual stocks, Sprott Precious Mineral Fund is as good as it gets IMHO... 1 year return is 69% (typically 2 to 3 times bullion).

Fri, 09/24/2010 - 10:00 | 602173 RobotTrader
RobotTrader's picture

Way too many guys fightng the tape.

So many "pros" are short big and getting killed.

I'm just following the bouncing ball, it's not that complicated.

So far, everything has been holding above the 20-day after Investor's Business Daily noted the "follow through day" off the recent low.

Fri, 09/24/2010 - 10:23 | 602292 SteveNYC
SteveNYC's picture

You've copped some flack lately Robo, but essentially, you have been correct. Keep the girls coming though, it's been a drought from you lately in this respect.....

Fri, 09/24/2010 - 10:53 | 602439 Ripped Chunk
Ripped Chunk's picture

On this site you will always draw flack. It's infested with moronic trolls now.

Robo kills it. Thanks for your analysis and entertainment.

Fri, 09/24/2010 - 10:29 | 602330 doolittlegeorge
doolittlegeorge's picture

if you're long treasuries you might want to call the "soothsayer."  god forbid if a war breaks out in the Middle East during a "peace process."

Fri, 09/24/2010 - 11:10 | 602516 Hephasteus
Hephasteus's picture

Their not fighting the tape. They are block trading out.

http://www.youtube.com/watch?v=eBAhan8ZNGI

Fri, 09/24/2010 - 11:44 | 602638 Saxxon
Saxxon's picture

Robo junked x 7 for having the intelligence to follow trends and profit.

Sat, 09/25/2010 - 00:21 | 604037 RockyRacoon
RockyRacoon's picture

He is junked for arrogance and ego self-massage, not being right.  People love a winner, but they hate those who flaunt it.  Lack of modesty and humility will get ya junked anywhere, and in life in general.  (I did not junk him... don't care enough.)

Fri, 09/24/2010 - 10:01 | 602175 tom
tom's picture

Hey, this man is indeed in good position to take home a nice slice of QE pie. You want him not to be happy about it? You thought he had some shame?

Fri, 09/24/2010 - 10:12 | 602221 43 Steelie
43 Steelie's picture

I don't think anyone is faulting him for making money.

It's just amusing to watch such a wealthy man have a seemingly lack of fundamental understanding for the underlying monetary picture.

But as I have been saying, when you have men in their 40s-70s who only have known Keynesianism their whole lives, since that is what made them and their friends rich, it's not difficult to see why they fail to grasp the bigger picture.

Hubris can be a bitch though.  

Fri, 09/24/2010 - 10:49 | 602420 tom
tom's picture

Trust me I know exactly what you mean. But that's not what I sense from this guy. "You've got to love a put, especially when it's issued by the Federal Government." In other words, when they're giving away money, he'll take it. He's not saying QE is good for anybody but himself.

Fri, 09/24/2010 - 10:02 | 602176 hedgeless_horseman
hedgeless_horseman's picture

09-24 07:42: US House Ways and Means chairman Levin says China's 'persistent' currency manipulation significantly distorts trade.  Japan, Switzerland, and the USA, well now THAT is different.

Fri, 09/24/2010 - 11:19 | 602548 Hephasteus
Hephasteus's picture

I'm so sick of this line of reasoning. There's x amount of gold on the planet. If the US really wants the east to stop pretending it's poor all they have to do is stop pretending they are rich.

This is a complaint about how they won't lie to nth degree about thier gold holdings and print convertibility ratios that are nonsense. It's all it is. It's all it ever will be.

 

Fri, 09/24/2010 - 10:01 | 602178 buzzsaw99
buzzsaw99's picture

Everything, in the near term though not bonds.

 

The guy is so stupid that he doesn't even know how QE works. I turned off the television after that.

Fri, 09/24/2010 - 10:07 | 602200 Chemba
Chemba's picture

so if Tepper is "so stupid", and you're not, how come Tepper is worth $6 billion and your worth the present value of a stream of social security payments?

Fri, 09/24/2010 - 10:09 | 602205 buzzsaw99
buzzsaw99's picture

you should have the billionaire kleptocrats line up so you can give them all BJs.

Fri, 09/24/2010 - 10:25 | 602306 logicalthought
logicalthought's picture

>>...how come Tepper is worth $6 billion and your [sic] worth the present value of a stream of social security payments?<<

 

Dude, that is the funniest line ever!

Fri, 09/24/2010 - 19:09 | 603695 Hephasteus
Hephasteus's picture

Poor guy. Have you been stuck in a German Comedian school most of your life?

Fri, 09/24/2010 - 10:26 | 602316 wolfsonite
wolfsonite's picture

So, the more money you have the smarter you are???  Are you fu$%ing kidding me? ...when do idiots like you wake up to realize they are being fleeced left and right ... unless, maybe, you're one of the fleecers

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