On the market: "On a multiple basis it's kind of full ... I don't think the market's cheap," Tepper said. "On the other hand, with that backdrop of growth around the world, with the potential we'll do other things here, with the sugar that's still being put on by the ECB, BOJ and let's face it the Fed is way low ... you can't be short in that kind of setup."
On deregulation: "The day that we had three Republican houses, the President, the two houses, that was the day there wasn't going to be another regulation put on the economy. And that alone just releases animal spirits," he said. It "upticks earnings."
On shorting bonds: "If we're short US bonds, we're betting on a stronger economy here. That's the bet," he said. "Listen bonds are really hard to own. The yields are really low."
On Federal Reserve policy: "I personally think the Fed will raise more quickly and for sure I'll bet, if you do get some of this stimulus they'll have to raise more quickly," he said. "And then it's a probability if you believe they'll get this stuff through or not get this stuff through."
From inception in 1993 through 2015, Tepper's main fund generated annual returns of 25 percent compared to the S&P 500 at 9.5 percent, according to market sources. Appaloosa Management has $17 billion of assets under management.
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