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Just Before David Tepper Was Preaching A 20x P/E On CNBC, He Was Selling These Stocks
On October 15, two weeks after the end of the third quarter, David Tepper appeared on CNBC for his semi-annual stock pumpfest, most memorable for his suggestion that a 20x P/E multiple on the S&P was perfectly acceptable. Which would suggest Tepper was very bullish on risk. Which would suggest buying more stocks, not selling. Yet selling is precisely what he did between June 30 and September 30 according to his just released 13F. Specifically, after having a total long equity AUM of $6.9 billion at the end of the second quarter, the Appaloosian lowered the dollar value of his AUM by nearly 10%, to $6.3 billion as of September 30. So what did he liqudate? Here are his biggest liquidations:
- Comcast ($61 million, 1.5MM shares)
- Microsoft ($48 million, 1.4MM shares)
- Weatherford ($31 million, 2.3MM shraes)
- NetApp ($24 million, 640K shares)
Just as notable is what he sold partially, of which his $665 million cut (4.3 million shares) in the SPY ETF is certainly quite dramatic. Other notable sales.
- Bank of America: sold $51 million, or 4.1MM shares
- Broadcom: sold $55 million, 1.2MM shares
- Hertz: sold $40 million, 1.5MM shares
- Sandisk: sold $39 million, 635K shares
- Carnival: sold $32 million, 876K shares
- Google: sold $18 million, 20k shares
And so on. What did he buy to offset all these sales? His new stakes are as follows:
- Freeport McMoRan: $58 million, 1.75mm shares
- Ingredeon: $20 million, 297k shares
- Community Health: $8.7 million, 210k shares
- Tenet healthcare: $8.7 million, 210k shares
and...
- a flyer for $6.5 million or 737k shares in JCPenney, in which he is nursing a substantial loss so far.
Tepper's complete latest holdings are shown below, sorted by notional as of Sept 30. New positions in green.
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looks like its shaping up to be a bumpy ride
I would have been perfectly happy holding quality stocks and even mutual funds & ETFs were it not for the corruption. I have been a net SELLER for 20 years. But I am selling down my positions, these sales represent sales of almost all kinds of companies (details on another thread).
I am NOT happy doing this, but I feel I have to defend what belongs to me and my family. It's hard to no longer believe in America.
:..(
Why don't you do what the ESF and JPig do with gold and silver..... sell ALL your positions in less than 15 minutes. I hear that's how you best achieve profitable price discovery.
I feel the same way.
Yeah! America has some explainin to do.
Tepper douche left millions and million on the table by pulling out early. Time for him to have a tepper tantrum.
Tepper doesn't do taper apparently.
Ipad double post glitch.
Isn't this why we all stopped watching CNBC 15 years ago? The ridiculous pump-n-dump-greater-fool scams, not daily, but nigh hourly.
May the HFT's eat him alive on his way out.
Yep.....Dan Dorfman 3.0
When the matters get important, you have to lie.
+100 Dr. Bonzo
CNBS is good for one thing, pumping and dumping.
tepper tantrum in 3-2-1....
Funny no one would ask Janet to comment on the below...
'00
'08
'13
Mr. Tepper is quite clear the Fed can never "taper" or "exit" without a landslide of Foreigners doing the same...The US is sooooo not Japan who domestically holds their debt...despite the Fed's QE foreigners are owning ever more of US debt and will ensure the Fed drives ever lower yields
after consuming too much brass monkey last night, i began to wonder....
about how much of the float does usa own in bitcoin. at what point can the .gov shut it down without riots in the streets. there has to be some golden ratio out there as is with income/food ect...
its already nearing 5 billion market cap...
sorry this is way off topic
the topic is how far can a global Ponzi scheme go...neigh, a global counterfeit scheme to steal everything...and how do you value things within this environment...seems on topic to me.
the ponzi ends when somebody like saudi arabia, isreal et al blinks.....
Bitcoin closing would be a non-event and certainly not cause rioting in the streets. Central bankers absconded with far more than that in the last five years, nevermind the last 100 years.
keep hammering that message home hambone. It's interesting about Tepper though. I thought I clearly remember him on CNBC saying the fed should and will taper and it won't be a big deal when they do.
I heard that from him too. Someone know how to find the vid?
Jim Willie and Jim Sinclair have said for years that there will be no exit, no taper, QEternity. So if they are called "nuts" but their predictions are turning out correct, the opposite must be true and it's safe to assume that Tepper IS the nut, since he was 100% wrong.
Tepper same cloth as SteveCohen....take his billions away. Guy has never done a good deed in his miserable life. Just another Goldman Mafia member!
"It's easier to be forgiven than to get rich".
Plan, Do and Tithe accordingly.
If I do the math right the SPY is up 6.5% since Oct 1. That's 1.5 months.
LOL- nothing like blowing your entire credibility on one trade.... Sweet score on that JCP, Dave- maybe shoulda looked at their balance sheet for 3 seconds before pushing the button.......
tepper, another fuckin liberal hypocrite fraud inside trader.
Tepper should have his balls nailed to the road like this guy:
http://youtu.be/Qda3RllDRl4
i hope david tepper loses his fucking shit.
the guy is the definition of a douchebag
Like Jesus said. Focus on yourself. Do for you - be truthful and harm no others. There will always be poor.
Maybe your Jesus but the Jesus most have heard about was the one that said nothing about what you imply.
Don't ya just hate the internet?
Signed David T
I hope some our Long Island bretheren take the coming opportunity to show MR. Tepper how much we enjoy his inside trading and frontrunning!!!!
THERE WILL BE NO SHELTER HERE!!!!
Who is Jersey will give Cramer a NICE FRIENDLY "HELLO"?
FUCKING WITH PEOPLES LIVES IS NO GAME.....THERE WILL BE NO QUARTER and NO SEED!!!
So what is the timeline 'til the freeride from the FED?