Tepper In Full On Shrinkage: Reduces 95% Of Stock Portfolio, Dumps Bank of America, Wells, Yahoo
While the kindly and crony old Octogenarian Octopus of Omaha was telling everyone about how bullish he is on America, other, more capable traders were dumping everything and retracing assorted balls which are no longer to be found anywhere near walls. Case in point is David Tepper's Appaloosa, which of the 63 positions tracked by us, sold are all part of his holdings in 59 of the total, or 95% of total. Among these were full liquidations in Bank of America, Wells Fargo, Fifth Third, as well as Yahoo, Pfizer, Walter Energy, Metlife, Merck, Medtronic, Marathon Oil, Manitowoc, Frontier Oil, DR Horton, Alpha, ConWay and Cliffs Natural. Looks like Tepper is no longer betting that EVERYTHING will benefit on another global rescue by the Fed. And yes, for the record, he did establish new positions in BP, Dana, Calumet and Holly Frontier, which also happened to be the only positions he added to!
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