Tags: bill | spetrino | david | tepper | multibillionaire

Multibillionaire Offers Great Food for Thought

By Bill Spetrino   |   Friday, 21 Jan 2011 12:28 PM

Many successful hedge-fund managers grew up in an atmosphere of wealth.

Multibillionaire David Tepper took a different road.

Tepper grew up in the East End of Pittsburgh in the city section known as Stanton Heights and attended public high school in Pittsburgh. He worked his way through the University of Pittsburgh. In 2009, he made his investors and himself about $7 billion.

The World's Greatest Dividend Stock on Sale Now — Click Here
 
Tepper doesn’t like the media but is well-known for his philanthropy. His main focus now is funding food banks all around the country.

He recently returned to cable television for the first time since August, when the market surged after he said all asset classes will rise. Those who bought stocks, gold or oil all had more than double-digit returns.

Among the highlights of what he said:

 • He thinks semiconductors are poised for more gains this year.

 • He said for the fourth quarter, his 13F statement due by Feb. 15 will have more U.S financials than it had in Q3 2010.

 • Gold, going forward, faces some difficulties. He believes higher interest rates on bonds will make holding gold less attractive.

  • He believes the S&P right now has an 11.8 forward price-earnings ratio (PE) and that given where interest rates are now, and even as they rise, he feels that PE expansion and earnings growth should lead to a higher S&P.

  • His worry about the U.S market isn’t because of the U.S financial system. He is worried about the ECB not providing sufficient liquidity. The influence of Europe and China's economies are the only thing that worries him about U.S equities.

  • He thinks the Federal Reserve’s QE2 — which many media pundits and politicians hate — has worked great. He is confident about America's future because of the Fed.

It’s not often you get great free advice from such an investment oracle.

Tepper, unlike most pundits, puts his money where his mouth is. He has contributed millions of his profits to charity. He also gets personally involved. His sole reason for speaking on television today was to raise awareness among investors all over the country to give to their local food banks.

Personally, Mr. Tepper has been a great role model for me because I grew up in a town of modest means, went to public high school and paid my own way through college.

I am proud to say I have borrowed more than one of his selections for my own Dividend Machine newsletter, in which every single conservative portfolio is higher than when recommended.

Please e-mail us at financialcustomerservice@newsmax.com with your comments.
 
About the Author: Bill Spetrino
Bill Spetrino is a member of the Moneynews Financial Brain Trust. Click Here to read more of his articles. He is also the editor of the Dividend Machine. Discover more by Clicking Here Now.

© 2017 Newsmax Finance. All rights reserved.

1Like our page
2Share
BillSpetrino
Many successful hedge-fund managers grew up in an atmosphere of wealth. Multibillionaire David Tepper took a different road. Tepper grew up in the East End of Pittsburgh in the city section known as Stanton Heights and attended public high school in Pittsburgh. He...
bill,spetrino,david,tepper,multibillionaire
479
2011-28-21
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved