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Billionaire hedge fund manager and owner of the NFL’s Carolina Panthers, David Tepper, told CNBC how he views the stock market currently.
“It’s not that complicated right now,” he told CNBC’s Scott Wapner on Friday. “You’re just not into QE (quantitative flexibility) more times. You are in the QT (quantitative adjustment) era. It’s a higher rate environment. They cannot be the same multiples as before. Not bad. “It’s just a different environment.”
Tepper also said he didn’t sell anything from his portfolio, but he made a new investment: 6% interest on a six-month certificate of deposit.
With hedge fund Appaloosa Management, he still owns nearly $13 billion in holdings, including 1.02 million shares of Nvidia Corporation (NVDA), valued at $431.48 million; 1.5 million shares of Meta Platforms Inc. (META), valued at $431.19 million; and 1.24 million shares of Microsoft Corp (MSFT), valued at $422.27 million, among others.
More about certificates of deposit:
- Bank of America sees third-quarter net interest income of $14.2 billion on deposit valuation
- SCHD: An even worse income investment than when I first said “sell”
