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David Tepper: Stocks Are Just As ‘Cheap’ Now As They Were Last Year
Look at where multiples and rates were in 1999. I’m not saying stocks are screaming cheap, but you’re nowhere near an overheated market. Any comparisons to past overheated markets are ridiculous.
That's what David Tepper told CNBC back in September and by God, he's sticking with that assessment in the new year.
Who knows, maybe it's not a great idea to question Tepper's judgement. Recall the following from our buddy Kevin Muir, recounting the "Tepper Bottom":
Think back to September of 201
LOL…I just don’t understand man with small dogs. It is a very strange sight.
haha! from your comment I would think you must have a Great Dane sitting in your Maserati.
“aggressively hawkish communications” ??? not likely. a SERIES of high-inflation-indicators would have to show up. pundits are being willfully blind by choosing such an outlandish ‘reason’ for bonds to get hit. also continuing humor is that only bonds are likely to get ‘hit’, not stocks. stocks are the safe move, here at 25x ttm, 30x cape and a cheap 19x forward guesstimates that rely on a perpetually weakening dollar.
first was the Tepper bottom, now the Tepper top. jeremy granthams checklist includes extrapolation of healthy fundamentals, ‘check’. more humor: cnbs asking everyone what could possible derail this wonderful market? as though they would even entertain looking for bad things on an up start to the year.
I bet Mr. Orange would make fun of that small dog…
“… please inform him that I too have a Dog, but it is a much bigger & more powerful one than his, and my Dog bites!”
2 thoughts….
(1) those little ones are so much worse! ankle-nippers!
(2) I doubt that Mr. Orange is allowed to have any dog! PETA keeps him on a watch-list!
(I wonder if any of those children of his have one?)
Normally bullish Jeremy Siegel was uncharacteristically reserved on CNBC earlier today.
Our beat down will continue and the end result will not be pretty. An interesting read.
https://www.goldmoney.com/research/goldmoney-insights/how-quickly-will-the-dollar-collapse