Appaloosa Management’s Founder On Forbes

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NEW JERSEY (Gaea Times.com)- David Tepper 53, the founder of the appaloosa management is the 62nd richest man in the world according to Forbes 400 money list. David Tepper is currently the highest paid hedge fund manager with an income of $4 billion in 2009. His firm made an investment in the bank shares in 2009 and got a 132 per cent return on their funds which means the fund made $7.5 billion last year. What seems to be difficult to others is easy for David Tepper. The shares in the banking sector such as of Bank of America Corp., Wells Fargo & Co. and Citigroup Inc. were at bottom rock prices as a result of panic stricken shareholders and investors. The economic repression had severely affected the financial market though for David Tepper it was an opportunity.

His Firm Appaloosa management made a huge amount of money by jumping on to the stocks. David Tepper did not use any brainwave theory, he simply followed the government’s Que who was buying the shares in the sector to prevent the industry from collapsing completely. His intuition paid off when his firm generated a return of 132 per cent. His strategy was somewhat similar to the one described in the most basic theories of the share market, the Dow theory. David Tepper has shown how simplicity works.

David Tepper apart from his appaloosa management is also known for his $55 million donation to the Graduate School of Industrial Administration which is now known as the Tepper School of Business. This is the largest donation to Carnegie Mellon University in its 104 year history. Appaloosa management oversees, according to recent estimates an amount of $12.4 in client’s assets.