Tepper: One candidate lacks judgment, the other 'demented, narcissistic and a scumbag'

Hedge fund billionaire David Tepper told CNBC on Monday that a "fairly bad choice at the top" of the election ballot is "affecting things."

"You have one person with a questionable judgment and the other person that may be demented, narcissistic and a scumbag. I'm not saying which one is which. You can make your own decision on that," the founder of Appaloosa Management said in an interview with Scott Wapner on "Halftime Report."

While he has not supported either Donald Trump or Hillary Clinton and is "sitting on the sidelines," Tepper said, "I'll probably vote for one — I'll vote at the end of the day. I'm in Florida, so my vote counts."

Although Tepper declined to publicly endorse either major party candidate, other billionaire investors and business leaders have been much more outspoken on the election.

Activist investor Carl Icahn, energy titan Harold Hamm and hedge fund manager John Paulson have donated to Trump Victory, one of the fundraising committees for Trump and the GOP.

Icahn has defended the Republican nominee as other high-profile supporters flee the candidate after a video surfaced from 2005, criticized as endorsing sexual violence.

"Over my years I've listened to a lot of salacious talk in locker rooms, bachelor parties, et cetera, by a lot of high-level people, some of whom are now supposedly so outraged," Icahn told CNBC.com in a phone interview last week. "All I can do is refer to that great quote, 'Let he who has not sinned cast the first stone.'" (Icahn defended Trump on the issue again on Monday in an interview with CNBC.)

But other major business leaders have backed Clinton, including Warren Buffett, Facebook COO Sheryl Sandberg and Republican businesswoman Meg Whitman. In July, Netflix CEO Reed Hastings knocked the Republican nominee, saying "Trump would destroy much of what is great about America."