David Tepper Buys ‘Everything’ China-Related on Beijing Easing
- Investor tells CNBC that Chinese stocks are undervalued
- Says he went longer on nation’s equities after stimulus
Billionaire investor David Tepper is buying more of “everything” related to China after Beijing rolled out sweeping stimulus measures that exceeded expectations.
Tepper, who founded Appaloosa Management in 1993, attributed his big bet on Chinese assets to the shift introduced by the top leaders in Beijing this week. “I thought that what the Fed did last week would lead to China easing, and I didn’t know that they were going to bring out the big guns like they did,” he said in a CNBC interview Thursday.