David Tepper Quotes
100 David Tepper Quotes (Appaloosa Management Quotes)
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For better or worse we’re a herd leader. We’re at the front of the pack, we are one of the first movers. First movers are interesting, you get to the good grass first, or sometimes the lion eats you.
David Tepper
[May 2010] We keep our cool when others don’t. The point is, markets adapt. People adapt. Don’t listen to all the crap out there.
David Tepper
We don’t really buy high-flyers. We buy before they get high-flyers.
David Tepper
It’s nice when you can buy cash, when it’s cheaper than cash.
David Tepper
You’re trying to figure out that inflection point.
David Tepper
[On losing money in Russia during the Russian crisis] Our biggest mistake was not realizing how illiquid markets could get so quickly.
David Tepper
I’m rubbing your balls for good luck!
David Tepper
The media says that hedge funds are the new masters of the universe… We’re just a bunch of schmucks.
David Tepper
I have too much money to quit.
David Tepper
The more I make, the more I’ll give away.
David Tepper
We bet on the country’s revival.
David Tepper
Those who keep their heads while others are panicking do well.
David Tepper
I’m the animal at the head of the pack. I generally am.
David Tepper
[On historic economic data] I can’t worry about backward, I’ve got to look to the future.
David Tepper
I’m not tepid, I’m Tepper.
David Tepper
I really wanted to learn about this trading business, and the guy running the desk at the time was not really a corporate guy. He wasn’t good at understanding companies and was more familiar with how interest rates moved so he wasn’t really right for the job.
David Tepper
[On moving to Goldman Sachs] Travelers cut Goldman off when they hired me. It was a bit hard going in there because a few of the salesmen were so pissed off at me that Travelers wouldn’t do business with them. But, by the end of the year, they decided to make me a trader because they thought I knew what I was doing.
David Tepper
[On going in the 1987 stock market crash] Going into the crash I had set up my entire portfolio as just short – I had no long positions. I made a fortune during and after the crash. It was very cool.
David Tepper
I used to be very good at history.
David Tepper
[On a few times when he argued with Fischer Black one of the co-authors of the Black-Scholes option pricing formula. Black said that the debt was overpriced and the he should buy the equity instead] Fischer, if I listen to you, I’m gonna be fired. You’re probably right over the longer term. But in the next three months, I don’t think you’re right. If I listen to you, I’m gonna get killed.
David Tepper
[In 1990 at the age of 33 being passed over as partner] I kept making the firm so much money.
David Tepper
[On being asked to make some trades he didn’t think were appropriate and notifying the legal department] I just didn’t give a sh*t. What was I going to do? Trade for them when I think they’re doing something that’s wrong? And then not see my kids again because I’ll get blamed for the trades? So I didn’t do the trades, but I didn’t get made partner either.
David Tepper
People say that I basically kept going to Rubin instead of Corzine but it wasn’t for political reasons. It was just because Rubin knew what was going on with equities and Corzine was a Treasury guy that didn’t know corporates. I wasn’t disloyal to him, but I wasn’t one of his boys.
David Tepper
I was stupid because I was just working hard and wanted answers and to be as efficient as possible. I wasn’t trying to screw or not screw anybody.
David Tepper
[On his older sister Sheryl bringing him into her second-grade class for show and tell] I was only four or five years old but I could already do multiplication and complex adding. I could barely even talk at the time but I could do math.
David Tepper
I was a big kid and was quiet in the beginning, but as I got into football in high school I turned into a joker and was well liked.
David Tepper
I knew every player in the major leagues. You could pull a player’s card, and I could tell you the statistics. [On September 25, 2009 he purchased a 5 percent interest in the Pittsburgh Steelers]
David Tepper
[On being asked by the hall guard what he was doing after his English teacher had thrown him out of class] My English teacher threw me out of class. He told me to roam the halls and act like the animal I am. I’m doing the best I can… I wouldn’t say I was a bad kid, though, just bored.
David Tepper
It wasn’t like I was a bad student. I just didn’t take it seriously.
David Tepper
You can’t be totally shy and get the best acting award in high school.
David Tepper
[When growing up] I remember my dad had made some small investments in a few companies, so I would track them and see how he was doing… but then the whole thing went bankrupt. It was a bad investment, but that didn’t deter me.
David Tepper
[On studying at the University of Pittsburgh] I had to pay for it myself.
David Tepper
It was funny, in high school I never had an ‘A,’ but in college I almost never didn’t have an A.
David Tepper
I had a scheme going where I was taking advantage of small moves in the market by buying options. It was like clockwork. I would put in orders at a sixteenth of a point and sell at an eighth and pay a dollar or two for commission and come out way ahead. It was just a little anomaly in the market at the time, and it was really steady income.
David Tepper
I think people should be self-reliant. You should work and be self-sufficient. That’s what I did.
David Tepper
I’m lazy competitive if you know what I mean.
David Tepper
The main thing that makes Appaloosa stand apart from the pack is the depth of our analysis and the fact that we’re not afraid to be the first one to act on our convictions. If you look at our history over the years, we are usually the first mover in a country or situation, time and time again.
David Tepper
It’s the [fund] manager’s decision to make the right calls for the portfolio, not the investors.
David Tepper
I have a combination of laid-back competitiveness on the field of play. You see that with some athletes that come in with earphones on and are hanging with the music. And then when you get them on the field, they’re focused and they’re fierce. So in the outside world, I’m that easygoing person. But if I’m on the field, I wanna win. And we win a lot.
David Tepper
There’s no place to hide at Appaloosa.
David Tepper
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