One of the greatest hedge fund investors of all time, David Tepper
is the president and founder of hedge fund Appaloosa Management where he has earned a global reputation for producing some of the highest returns ever on Wall Street. Tepper’s windfalls have been made in banking, housing, and power companies, as well as on the bankruptcies of giants like Enron and others. A renowned philanthropist, Tepper has earned the moniker of “the true alpha” investor, claiming fame for a historical record payday of $4 billion in 2009. Tepper personally made $2.2 billion in 2012. As of September 2013, Tepper had a net worth of $7.9 billion, according to Forbes, also naming Tepper as the highest-earning among the top 40 hedge fund managers and traders in 2013.
Appaloosa Management was founded by David Tepper
and Jack Walton in 1993. The hedge fund specializes in distressed debt and invests in public equity and fixed income markets around the world. Appaloosa had net returns of almost 30% last year, with an average annual return of 23.3% over 5 years, and 29.2% since inception in 1993. The stocks bought by David Tepper
averaged a 12-month return of 21.45%. In 2010, he returned 22% compared to the S&P500 at 15.06%. His 15-year cumulative return is 27.4% annually. Continue Reading »