News Update: Appaloosa's David Tepper Goes Long And Strong US Equities

Hedge fund manager David Tepper, who was ranked the highest paid manager in 2009 due to his enormous bet on banking stocks at their lows at the beginning of the year, is reportedly loading up on equities again.

During an interview with CNBC this morning, Tepper said stocks were poised to rally no matter what.

Tepper said the following scenarios could occur, "Either the economy is going to do well- and what assets will do well? Stocks. Bonds won't do so well, gold won't do so well. Or, the economy is not going to pick up and the Fed is going to come in with QE (quantitative easing). Then what's going to do well?" asks Tepper, pausing for effect, "Everything. Stocks, bonds in the near term, gold."

Tepper went on to argue that the Fed indicating that it actually wanted inflation, there was no way he could be more long stocks in the current market.

Tepper's $12 billion fund Appaloosa Management had more exposure to the bond market, but has since switched over to equities.

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