David Tepper
December 21, 2009
David Tepper
On Sunday it was reported that Hedge fund firm Appaloosa Management made a profit of about $7 billion so far this year. It is run by David Tepper.
According to repots in February and March it really scooped up and shares of banks came down and investors started their exits. At that time Bank of America (BAC.N) shares, trading below $3, and Citigroup (C.N) preferred shares, when that stock was under $1.
A successful hedge fund manager and an American value investor, David Alan Tepper was born on September 11, 1957. He is the founder of Appaloosa Management. He did MBA from Carnegie Mellon in 1982. He is a resident of Livingston, New Jersey. He graduated with Bachelor of Arts degree in Economics.
In Alpha Magazine’s ranking of top hedge fund earners in 2006, he was ranked ninth with earning of $670 million. He was also considered as “the hottest investor on wall street”.
He was former head of junk bond trading at Goldman Sachs according to financial times. Focusing on the distressed bonds he generated a 61% return. He has a business mind and specialty in distressed companies.
A donation of $55m to Carnegie Mellon University’s Business School was announced by Tepper On March 19, 2003. Kenneth Dunn, the dean of the school and also former professor of Tepper appreciated it.