×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Tepper Economy So Much Better but Stay Cautious

Tepper: Economy 'So Much Better' but Stay Cautious

By    |   Friday, 21 January 2011 11:54 AM

In September, star hedge-fund manager David Tepper said "everything" will rise in the U.S. stock market. Indeed the Standard & Poor’s 500 Index has gained 12 percent since then. And the head of Appaloosa Management remains bullish now, though he sees some speed bumps along the way.

"So much uncertainty has been alleviated. The economy is so much better now," Tepper tells CNBC. "This country looks good. This is not my concern."

To be sure, it’s not all smooth sailing, he says.

"It's not a free ride in the market," Tepper says. "You've still got to worry about Europe. You've got to worry about China a little bit. We are at a higher level, but pretty darn good. So you can't be too negative, but you can't be un-cautious."

Tepper recommends technology stocks, particularly semiconductors and equipment companies, specifically citing Micron Tech. He also likes Dean Foods. Oil and other industrial commodities will rise on strong global growth, he says.

Others are bullish on U.S. stocks too. “The strong earnings season signals that the economic recovery is sustainable,” Michael Mullaney, a fund manager at Fiduciary Trust, tells Bloomberg.

“Instead of focusing on earnings, we’re looking at sales growth because companies have cut expenses to the bone. There’s good sales momentum. In addition, we’ve been getting positive surprises about the economy. That all bodes well for the stock market.”

© 2021 Newsmax Finance. All rights reserved.


StreetTalk
In September, star hedge-fund manager David Tepper said everything will rise in the U.S. stock market. Indeed the Standard Poor s 500 Index has gained 12 percent since then. And the head of Appaloosa Management remains bullish now, though he sees some speed bumps along...
Tepper Economy So Much Better but Stay Cautious
228
2011-54-21
Friday, 21 January 2011 11:54 AM
Newsmax Media, Inc.
More Articles
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

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