Appaloosa's Tepper: flat is not a bad place to be right now; stocks not high enough to short - CNBC
- If Fed does not raise rates and stocks rally I might look to short
- Profit expectations for 2016 are very high and earnings may not rise as much as expected
- This is a time to not lose money, not a time to take risks. Stock valuations are somewhere between right and too rich- Would buy on a 15-20% correction
- Currently more apt to sell into rallies than to buy into dips
- Notes sold last of BABA position in early July (held 1.4M shares as of June filings)
- Apple stock is cheap, don't have a large position