David Tepper of Appaloosa Management discusses markets on CNBC; constructive on market despite valuation
- David Tepper (Appaloosa Management) is on CNBC discussing the markets...
- Tepper notes the market isn't cheap but there is synchronized growth around the world, sugar is still being put on by the ECB, BOJ and Fed, and there will be less regulation, so it's hard to short.
- Notes he was guarded about the market before due to trade friction with China, but believes we're past that now; notes the immigration policy has been watered down and hopefully will get trade tensions with Mexico figured out; all positives from a business perspective.
- Believes the Fed is behind the ball and needs to raise rates faster.
- Notes he is short bonds and long European equities