• 04 Dec 2009 at 12:42 PM

Dear Team Tepper

By Bess Levin

Performance for David Tepper’s Appaloosa Management (excuse the watermark. The dear friend who sent it had to remove the original one so as not to incriminate himself and replaced it with something else):


appaloosa november returns.png

Comments (19)

  1. 1
    Posted by guest | December 4, 2009 at 12:46 PM

    Thoroughbred Master?
    Walter Noel’s back in the game, with a fund???
    -LEH Quant

  2. 2
    Posted by guest | December 4, 2009 at 12:46 PM

    love the watermark bessie…

  3. 3
    Posted by guest | December 4, 2009 at 12:48 PM

    Bess-
    Kind of hard to read. Does that say ~$4.3bAUM? 84 and 85% net returns?

  4. 4
    Posted by Bess Levin | December 4, 2009 at 12:52 PM

    @3 yup. $4,316,363,202; 84.62 percent; 85.60 percent.

  5. 5
    Posted by guest | December 4, 2009 at 12:53 PM

    @3 pretty clear on my screen. your numbers are correct. scary

  6. 6
    Posted by guest | December 4, 2009 at 12:58 PM

    any idea of HWM? Not bad for a couple dudes in the Jerz

  7. 7
    Posted by guest | December 4, 2009 at 1:04 PM

    @6 no idea but he took a beating himself last year:
    http://dealbreaker.com/2009/04/david-tepper-gunning-for-other.php

  8. 8
    Posted by guest | December 4, 2009 at 1:04 PM

    @6, not sure of his HWM but if you look at performance he’s over HWM in these funds. Gross 120%, net 85%; around a full 2&20% in there.

  9. 9
    Posted by guest | December 4, 2009 at 1:37 PM

    Thoroughbred was a new fund in 2008 that was up for the year.

  10. 10
    Posted by guest | December 4, 2009 at 1:39 PM

    Nothing but leveraged beta.
    - Cliffy

  11. 11
    Posted by guest | December 4, 2009 at 1:47 PM

    Beta? Sharpe?
    I guess none of you took any portfolio classes in school…

  12. 12
    Posted by guest | December 4, 2009 at 2:21 PM

    #11, see above. We at AQR are solely focused on alpha generation. ()
    - Cliffy

  13. 13
    Posted by guest | December 4, 2009 at 2:22 PM

    #11, see above. We at AQR are solely focused on alpha generation. ()
    - Cliffy

  14. 14
    Posted by mebane faber | December 4, 2009 at 2:29 PM

    you could just follow Tepper’s picks through 13fs on AlphaClone and be up over 120%, beats his fund net and gross.

  15. 15
    Posted by guest | December 4, 2009 at 3:16 PM

    @Cliffy
    I’m guessing the comment section is full of bankers that just look at pretty percentage numbers. They should invest their money with that Nurse lady that won the CNBC portfolio challenge with CROX and similar garbage.

  16. 16
    Posted by guest | December 4, 2009 at 3:29 PM

    @Cliffy
    I’m guessing the comment section is full of bankers that just look at pretty percentage numbers. They should invest their money with that Nurse lady that won the CNBC portfolio challenge with CROX and similar garbage.

  17. 17
    Posted by guest | December 4, 2009 at 5:02 PM

    they don’t use any leverage and that fund was up last year. its a lot of fixed income so its tough to recreate their book from 13Fs.

  18. 18
    Posted by guest | December 4, 2009 at 5:12 PM

    carnegie mellon in da house!!!

  19. 19
    Posted by guest | December 5, 2009 at 10:49 AM

    #15/16, no, they should invest in my new string of alpha-generating mutual funds, duh!
    - C to the liffy

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