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New Jersey hedge fund manager Tepper says U.S. on ‘verge of greatness’

Bloomberg News – David Tepper, the hedge-fund manager who runs the $15 billion Appaloosa Management LP, said he’s bullish on U.S. stocks as the economy is set to grow by as much as 3 percent this year.

“This country is on the verge of an explosion of greatness,” Tepper said today in an interview on Bloomberg Television’s “Market Makers.” “The key is to be long equities this year.”

Tepper said investors should own stocks because they’re historically inexpensive, U.S. companies have little debt, interest rates are low, credit is fully valued and the major risks to the global economy, such as a debt crisis in Europe, have diminished. Short Hills, New Jersey-based Appaloosa, which celebrates its 20th anniversary this year, returned 30 percent in 2012, he said.

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