David Tepper, a billionaire, is the founder of Appaloosa Management, a hedge fund established in 1993. He is widely recognized as one of the most successful figures in the finance industry. Forbes has described him as “arguably the greatest hedge fund manager of his generation.” Tepper’s impressive track record of consistently outperforming his peers and the global markets since the inception of Appaloosa speaks volumes about his expertise.
Appaloosa’s performance has been remarkable, surpassing the S&P 500 by 15% over the past three years, despite the challenging macroeconomic environment. Given Tepper’s exceptional performance, it is worth considering his stock picks for potential investment opportunities.
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Tepper’s investment strategy may surprise investors, as he allocated a significant 47.1% of Appaloosa’s portfolio to just five artificial intelligence (AI) stocks at the end of the third quarter:
Meta Platforms (NASDAQ: META): 11.6%
Microsoft (NASDAQ: MSFT): 10.2%
Amazon (NASDAQ: AMZN): 9.4%
Nvidia (NASDAQ: NVDA): 8.8%
Alphabet (NASDAQ:…
2024-01-29 07:52:00
Source from finance.yahoo.com