Placing big bets

David Tepper runs a hedge fund called Appaloosa Management. He made a big bet in ’09 that bank stocks would recover, buying BofA below $3 and Citigroup preferred shares below $1. They’re now at about $15 and $3.40 or so.

So, for the year, he made Two point Five BEEEL-YUN Dollars.

I suppose that makes him the latest bad guy in the Other People Making Money Hurts You … Somehow … Just Don’t Ask Me How sweepstakes.


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