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Billionaire hedge fund manager and owner of the Carolina Panthers of the NFL, David Tepper, told CNBC how he currently sees the stock market.
“It’s not that complicated right now,” he told CNBC’s Scott Wapner on Friday. “You’re just not in QE (quantitative easing) times anymore. You’re in the QT (quantitative tightening) era. It’s a higher rate environment. can’t be the same multiples as before. It’s not bad. It’s just a different environment.”
Tepper also said he did not sell anything in his portfolio, but he made a new investment: 6% interest on a certificate of deposit for six months.
With Appaloosa Management hedge fund, he continues to own nearly $13B of stakes, including 1.02M shares of Nvidia Corporation (NVDA), valued at $431.48M; 1.5M shares of Meta Platforms Inc. (META), valued at $431.19M; and 1.24M shares of Microsoft Corp (MSFT), valued at $422.27M, among others.
More on Certificates of Deposit:
- Bank of America sees Q3 net interest income at $14.2B on deposit pricing
- SCHD: An Even Worse Income Investment Than When I First Said ‘Sell’
