David Tepper has made his hedge fund, Appaloosa Management, about $7 billion for 2009, and pulled in about $2.5 billion for himself by betting on distressed American banks that now seem poised to make a full recovery. Back in February and March, Tepper bought all the Bank of America and Citigroup stock he could get his hands on when it was trading below $3 and $1 respectively. Other investors avoided the stock like plague with worries that the banks would be nationalized or that a Great...Read Full Story
David Tepper (born on September 11, 1957) is an investor who manages the Appaloosa Management hedge fund. David Tepper specializes in buying up distressed stocks and properties and profiting when they rebound.