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David Tepper

16quotes

David Tepper


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Full Name and Common Aliases

David Alan Tepper is a renowned American businessman, investor, and philanthropist.

Birth and Death Dates

Born on April 25, 1957

Nationality and Profession(s)

American, Hedge Fund Manager, Investor, Philanthropist

Early Life and Background

Growing up in Pittsburgh, Pennsylvania, David Tepper was the youngest of four children. His father, a used car salesman, instilled in him a strong work ethic from an early age. Tepper attended Taylor Allderdice High School, where he excelled academically and developed a passion for sports, particularly football.

Tepper's fascination with finance began during his high school years, when he worked as a stockbroker at the local brokerage firm, PNC. This experience laid the foundation for his future career in investing. He graduated from the University of Pittsburgh in 1978 with a Bachelor's degree in Administration of Justice and later earned an MBA from Carnegie Mellon University.

Major Accomplishments

Tepper's professional journey began as a stockbroker at Kidder Peabody & Co. (now part of PNC Financial Services Group). In 1993, he co-founded Appaloosa Management LP, a hedge fund that would become one of the most successful investment firms in the world.

Under his leadership, Appaloosa's flagship fund returned over 20% annually between 2008 and 2010, earning it a spot among the top-performing funds globally. Tepper's prescient calls on the mortgage market and subsequent bets against subprime mortgages proved particularly astute, as the global financial crisis unfolded.

Notable Works or Actions

In addition to his impressive investment track record, Tepper has been an outspoken advocate for economic policy reform and has written extensively on the subject. His book, "Tepper's 2020: A Guide to the World in Crisis," offers insights into his views on economics, politics, and investing.

In 2018, Tepper purchased the Pittsburgh Steelers, one of the most iconic teams in the National Football League (NFL), from the Rooney family for $2.5 billion. This move cemented his reputation as a shrewd businessman and sports enthusiast.

Impact and Legacy

David Tepper's impact on the financial world is multifaceted:

As a pioneering hedge fund manager, he has inspired generations of investors with his contrarian approach to markets.
 Through Appaloosa Management, he has created wealth for thousands of investors and employees, solidifying his reputation as one of the most successful money managers in history.
* His philanthropic efforts have made a lasting impact on his hometown of Pittsburgh, particularly through the Tepper Sports Complex at Carnegie Mellon University and the David and Joy Tepper Foundations.

Why They Are Widely Quoted or Remembered

David Tepper's unique blend of business acumen, investment savvy, and charismatic personality has earned him widespread recognition. His quotes and insights are frequently sought after by media outlets, investors, and policymakers alike, offering valuable perspectives on the global economy, investing strategies, and leadership principles.

As a highly respected figure in finance, philanthropy, and sports, David Tepper continues to shape conversations about business, politics, and culture. His remarkable journey serves as an inspiration to aspiring entrepreneurs, investors, and leaders worldwide.

Quotes by David Tepper

GM will do what’s best for GM, and Delphi should do what’s good for them.
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GM will do what’s best for GM, and Delphi should do what’s good for them.
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It’s our contention that equity may be in the money, depending on where the liabilities lie.
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It’s our contention that equity may be in the money, depending on where the liabilities lie.
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I could buy an island. I could buy a private jet - but I have NetJets.
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I could buy an island. I could buy a private jet - but I have NetJets.
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#jet
I'm just a regular upper-middle-class guy who happens to be a billionaire.
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I'm just a regular upper-middle-class guy who happens to be a billionaire.
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I left Goldman Sachs. I was thinking about going to another Wall Street place. I didn't want to do that. That was crazy. After you work on Wall Street, it's a choice: would you rather work at McDonald's or on the sell side? I would choose McDonald's over the sell side.
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I left Goldman Sachs. I was thinking about going to another Wall Street place. I didn't want to do that. That was crazy. After you work on Wall Street, it's a choice: would you rather work at McDonald's or on the sell side? I would choose McDonald's over the sell side.
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#choose
The S&P 500 stocks looked cheap compared to everything else.
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The S&P 500 stocks looked cheap compared to everything else.
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#cheap
I was never afraid to go back to Pittsburgh and work in the steel mills.
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I was never afraid to go back to Pittsburgh and work in the steel mills.
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#pittsburgh
I think when it comes to decisions, I try not to be emotional. To drown out the noise and look at the important facts.
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I think when it comes to decisions, I try not to be emotional. To drown out the noise and look at the important facts.
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#drown
Given the question of where the liabilities lie, there should be a fight. That fight can't be made without an equity committee.
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Given the question of where the liabilities lie, there should be a fight. That fight can't be made without an equity committee.
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#equity
When we started Appaloosa, we were going to name it Pegasus because everyone was using Greek names. We filed the name. We paid $300, and they said you cannot use it because it is taken. Pegasus Funds. Then we said Pegasus is kind of a horse. We did not want to be the Unicorn Fund. So we pulled out a horse book.
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When we started Appaloosa, we were going to name it Pegasus because everyone was using Greek names. We filed the name. We paid $300, and they said you cannot use it because it is taken. Pegasus Funds. Then we said Pegasus is kind of a horse. We did not want to be the Unicorn Fund. So we pulled out a horse book.
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#cannot
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