"There's a reason Trump National was the first golf course that had pencils with erasers — not to talk about the character of people, not to say anything. But just mentioning that," Tepper said on "Squawk Box."
Those little golf pencils don't generally have erasers. The thought is golfers shouldn't need them, because they shouldn't be changing their scores.
Trump National Golf Club in Bedminster, New Jersey, did not immediately respond to CNBC's request for comment on whether the course's pencils have erasers or not.
The Trump campaign told CNBC in response to Tepper's remark: "Mr. Trump is a man of great character, integrity and he also happens to be a terrific golfer, although he prefers to work."
Tepper's larger rebuke of Trump centered on what the founder of Appaloosa Management claimed was the real estate billionaire's lack of generosity. "Trump masquerades as an angel of light, but he is the father of lies," Tepper said.
Trump campaign manager Kellyanne Conway told "Squawk Box" in a later interview that the candidate has been "very generous" with his wealth, saying she has "witnessed it first hand."
Hillary Clinton, however, did not escape Tepper's ire either. He called the Democratic nominee a "flawed" and "smug" person.
Given the choice of Clinton or Trump, Tepper did say he's going to vote for Clinton. But he said he's going vote for Republican House and Senate candidates, hoping the GOP keeps control on Capitol Hill.