Billionaire David Tepper: Recent S&P losing streak got me more excited about stocks

Tepper's market playbook

Hedge fund billionaire David Tepper told CNBC on Monday he has become more bullish on stocks in the past few weeks.

Tepper appeared on CNBC's "Squawk Box," one day before the presidential election, which he said is tough to call. He blasted Donald Trump, but also bashed Hillary Clinton. Though in the end, he said he's voting for Clinton and Republicans down ballot.

The founder Appaloosa Management told CNBC in October he had been generally "pretty cautious on the market, not outright bearish." He said then that he was "pretty light" on stocks, with a lot of cash on hand.

But the has fallen about 2.5 percent since Tepper's CNBC appearance on Oct. 17, closing on Friday at 2,085.

On Monday, Tepper told CNBC he saw that decline as a time to do some buying, because 2,080 on the S&P was what he was thinking was the downside for the index.

The S&P 500 closed down Friday for a ninth-straight session, the longest losing streak in 36 years.

But stock markets in the U.S., Europe, and Asia soared on early Monday, after FBI Director James Comey informed Congress on Sunday the newly revealed Clinton emails were examined and he concluded, as he did in July, that no charges were warranted.