Continuing his round of rare recent media appearances, Appaloosa Management's David Tepper was on Bloomberg today telling people "to be long equities" as he's bullish. Last month we highlighted his other interview where he said there's a lot of upside in equities,
Bullish on Equities
Valuation is part of the reasoning for his bullish call on equities as a whole: "If you look at the markets, they are trading at a really low multiple. 13 handle this year, 11 handle next year on the S&P."
Additionally, he simply points to the vast money creation across the globe as a reason to continue to ride the equity train.
He drew attention to an incredibly underweight equities stance by retail investors, pensions and more. He feels that eventually there will be a shift. Inflows to equity funds at the start of the year were at higher levels than they have been in quite some ...