- David Alan Tepper
- David Alan Tepper: Appaloosa Management
- David Alan Tepper: More Info
In December 1992, David Tepper left Goldman Sachs and in 1993 he started Appaloosa Management.
In 2001, he generated a 61% return by trading distressed bonds. In 2005, he pursued what he percieved as better opportunities in Standard & Poor’s 500 stocks. He makes significant gains every year by investing in companies such as MCI and Mirant. Investments in Conseco and Marconi also led to huge profits for the company’s hedge funds while Tepper “keeps the market on edge.”
David Alan Tepper was ranked ninth in Alpha Magazine’s list of top hedge fund earners in 2006, with earnings of $670 million. In 2003, Tepper was called “the hottest investor on Wall Street”] and was one of the top 10 money earners in Institutional Investor’s Alpha’s listing of the world’s 25 Highest-Paid Hedge Fund Managers for 2004. He also ranked second on the same list in 2003. With an estimated current net worth of approximately $1.2 billion, he was ranked by Forbes as the 601st richest person in the world.
In 2009, Tepper’s hedge-fund firm earned about $7 billion by buying deflated bank shares in February and March and profiting from the ensuing rise in the market.