Remember when David Tepper was super bullish on the U.S. economy and stock market back in January? He was basically saying that nothing could go wrong, yet we pointed out that we were on the verge of tax increases, sequesters, entitlement reform, debt ceiling turmoil?
We called out Tepper (here and here) on his wildly bullish call and especially made fun of his claim that things were going to be booming because the deficit was shrinking. That was really ignorant.
Tepper was on CNBC this morning and FYI, I didn't listen, however, I did tweet over to the show reminding them to ask him how things were going now that the deficit had shrunk so much.
@SquawkCNBC @TheStalwart @RobinHoodNYC Don't forget to ask him about his super bullish stock market call because the deficit was shrinking.
— Michael Norman (@mikenorman) October 15, 2013
1 comment:
How was your call "right"? The S&P 500 is up 17% this year. Nominal GDP was 3.1% last quarter. The unemployment rate is down almost 1% over the last year and down 0.5% in 2013. Tepper's main fund is up 21% this year.
He was right. MMT was wrong.
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