Video: Appaloosa's Tepper Says Stock Markets Not in Bubble
my previous article: Is this the beginning of a secular
David Tepper has made another appearance on Bloomberg
and opined that the market is NOT in a bubble.
Tepper is the highest paid hedge fund manager in 2012 and
he is known for making sound market calls.
1) Market is not in a bubble. He uses S&P and Nasdaq
Forward PE multiple to illustrate his point. Below chart shows PE multiple (not
forward) of S&P500 which has rallied from 17x (1995) to 31x (2000) pre
internet bubble. Now post GFC 2008, the market's PE has been in range bound
between 10-18x; still well below implied PE multiple of 25x.
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