New Guru Added: David Tepper of Appaloosa Management
David Alan Tepper is the founder of Appaloosa Management, which is a $3 billion hedge fund investment firm based in Chatham, N.J., just west of New York City. As president and founder of Appaloosa Management, Tepper has earned an international reputation for producing some of the highest returns amongst fund managers on Wall Street. With an estimated current net worth of around $1.2 billion, he is ranked by Forbes as the 645th richest person in the world.
He earned a master of science in industrial administration from Carnegie Mellon in 1982. He donated a record $55 million to the Graduate School of Industrial Administration. The gift is the largest donation to Carnegie Mellon University in its 104-year history.
He is a distressed-debt specialist, was once considered to be the hottest investor on wall street.
As of Dec. 31, 2006, David Tepper holds 33 stocks with the market value of 2.8 billion. His largest holdings are Oracle Corp. (NYSE:ORCL), Applied Materials Inc. (NASDAQ:AMAT), Microsoft Corp. (NASDAQ:MSFT) etc. He bought 7 news stocks during the 4th quarter of 2006, which includes OWENS CORNING (NYSE:OC), Ford Motor Co. (NYSE:F), ARMSTRONG WORLD Industries (AWI) etc.