The key to investing is to be fearful when others are greedy, and greedy when others are fearful. But the real trick is figuring out the difference.
Investors
David Tepper
Born in 1957 in Pittsburgh, David Tepper honed his skills on Goldman Sachs's junk-bond desk before founding Appaloosa Management in 1993. He deploys capital aggressively into distressed debt and beaten-down equities at moments when others flee, recording roughly $7 billion in personal earnings in 2009 alone. He is a leading figure in distressed investing, combining the nerve to act coolly amid panic with the insight to read macroeconomic currents.
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David Tepper's Other Quotes
This is the best environment ever for a hedge fund manager. Either the economy is going to get better, which is good for stocks, or it's going to get worse, and the Fed is going to have to print more money, which is good for stocks.
I am the animal at the head of the pack. I either get eaten or I get the best food.
Related Quotes
In prosperous times, save diligently; in downturns, invest boldly.
-- Honda Seiroku
Being too far ahead of your time is indistinguishable from being wrong.
-- Howard Marks
Value investing is at its core the marriage of a contrarian streak and a calculator.
-- Seth Klarman
At the root of all financial bubbles is a good idea carried to excess.
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We were ugly-duckling buyers from start to finish.
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It's not always easy to do what's not popular, but that's where you make your money. Buy stocks that look bad to less careful investors and hang on until their true value is recognized.
-- John Neff