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David Tepper Throws $20 Bills On The Floor To Make A Point

Picture 74.pngIn our last installment of The Secrets To David Tepper’s Success we learned that the Appaloosa founder rubs a pair of brass balls at various points throughout the trading day for good luck and also to keep his team in good spirits. Today it’s the bit with the twenty:

David Tepper often throws a $20 bill on the floor when he’s weighing a big investment with analysts at Appaloosa Management LP. “Would you pick that up?” Tepper, founder and president of Appaloosa, asks them. His point: The best trades can be like found money.

Obviously this has worked out pretty well for D.Tepp, as evidenced by his fund gaining about 120%, after fees, through early December but really? He does this quasi-amusing trick “often,” without it getting old after the first time? And his employees are still always like “ah-ha, we see what you’re getting at, Big D” the 100th time around? The thing with the sack we get. Watching someone have his way with a replica of testicles he keeps on his desk is never not uproarious. But this? Meh. In fairness, maybe it’s just that we read the first couple lines and got overly excited that this was going to go down the way it does up in Stamford, where the trick has been perfected and goes something more like, “Would you bend over and pick that up? Yeah, really put your back into it, just like that. That’s a good girl. Oh, I see you’re wearing the crotchless panties today, very nice. [sing-songy voice] Someone’s gonna get to execute his trade todayyyy. Okay now take that $20 and stick it in your mouth. Yeah, just like that. Don’t think I’m not doing this to make a point here, I am, and it will reveal itself right after you put this ball gag on.”
But whatever! The team seems to like it (or put up with it) and has only great things to say about the big man, like that a certain investor/aberrant sex fetishist doesn’t hold a candle to the guy.

“When he sees a fat pitch, he just keeps swinging and swinging,” says Alan Fournier, a former Appaloosa partner and founder of Pennant Capital Management LLC. “I don’t think Warren Buffett holds a candle to him,” Fournier says.


Also, this did not go unappreciated:

…he was an indifferent student at Pittsburgh Peabody High School, he says, and something of a class clown. He remembers being kicked out of one class and told by the teacher, “Go roam the halls and act like the animal you are.”

Tepper Turns Panic to Profits With $6.5 Billion Hedge Fund Gain [Bloomberg]

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85 Responses to “David Tepper Throws $20 Bills On The Floor To Make A Point”

  1. guest says:

    He looks so regal in that pic.

  2. guest says:

    bringing back memories, I'm getting misty-eyed.
    -pj

  3. guest says:

    Is that an Apple IIe in the background?
    What is he doing? Playing Oregon Trail?

  4. guest says:

    “Would you bend over and pick that up? Yeah, really put your back into it, just like that. That’s a good girl. Oh, I see you’re wearing the crotchless panties today, very nice. [sing-songy voice] Someone’s gonna get to execute his trade todayyyy. Okay now take that $20 and stick it in your mouth. Yeah, just like that. Don’t think I’m not doing this to make a point here, I am, and it will reveal itself right after you put this ball gag on.”
    this is eerily accurate. gives me the chills (and gets me a little excited too).
    -andrea tong

  5. Investorcluzo says:

    [sing-songy voice]… – just what I needed this morning, I just about spit up my drink…and I've got a meeting this afternoon! well done bessy.

  6. guest says:

    @5 seconded

  7. american bandersnatc says:

    “When he sees a fat pitch, he just keeps swinging and swinging”. Is he saying that Tepper doesn't know how to time and size his trades?

  8. guest says:

    @7 shut your mouth when i'm talking to you.
    -DT

  9. guest says:

    when did corky start a hedge fund?

  10. guest says:

    that was kind of you not to use the photo bloomberg ran.

  11. guest says:

    The strippers usually get mad when I throw the $20 on the floor.
    ~Houston Natgas Trader

  12. guest says:

    I've never heard of him using the old "one armed man counting his change" analogy to prove any points in the trading room. What gives?

  13. guest says:

    @12 that's coming in part 3 of The Secrets To David Tepper’s Success.

  14. guest says:

    If any of you need assistance on the "one armed man counting his change" reference, I do have some time available for a while.
    ~The Joke Briefer

  15. guest says:

    The first warning sign is when the comparisons to Buffett start.

  16. guest says:

    I am curious as to what anus_list has to say about this situation.

  17. guest says:

    Bess,
    You complete me.

  18. guest says:

    -@14
    That would be much appreciated, thank you.

  19. guest says:

    @14 – yes, please. I am particularly curious how it relates to being busier than a one-armed paper hanger, or than a one-legged man in an ass-kicking contest.

  20. guest says:

    @19 it doesn't relate b/c they're completely separate jokes. idiot.

  21. guest says:

    @20 chill out… @19 wouldn't be asking the joke briefer for help if he knew the joke in the first place

  22. guest says:

    @16 – That comment was absolutely dreadful. Were you abused as a child?

  23. american bandersnatc says:

    There is a saying that "In the land of the armless, the one armed man is king".

  24. guest says:

    @AB no, the saying is "in the land of the blind, the one-eyed man is king."
    and please, stick to jokes about tepper jerking it on the desk. thanks.

  25. guest says:

    Re: "The One-Armed Man Counting His Change"
    The parlor trick referred to as "The One-Armed Counting His Change" is usually at its most hilarious in mixed company after significant amounts of alcohol or other self-medicating drugs have been consumed.
    It is often displayed at office parties or at about 8:00 pm after work in bars and pubs and is usually reserved for an understanding and hard-to-offend audience. It frequently is reserved for those times after all G rated magic tricks ie "the sliding thumb, the salt shaker through the table" trick, tc., have been exhausted.
    To perform the "One -Armed Man Counting His Change" a male will produce an amount of pennies, nickels and dimes and quarters into the palm of his left hand, holding that change at about zipper level.
    Then, with his right hand and hidden from view, he will lower his pants zipper, stick his right hand into his pants and stick only his index finger out the zipper opening as though it wa a penis.
    Then the man will turn and face his audience and using only his index finger sticking through the zipper opening, he will finger the coins in his left hand as though he was counting them. Thus, he will announce, "Here is how a one-armed man counts his change!"
    The joke/trick has been popular since Greco-Roman times with some inferences in it to Egyptian dynasties and Chinese social discussions 7,000 years ago.
    Most recently it is alleged that it is extremely popular at a certain annual Omaha business event as well as among surviving investment banks.
    Limits to the joke consist of knowing who is in the audience or being aware of an attending viewer who is related to a one -armed man.
    Sincerely,
    ~The Joke Briefer

  26. GUEST says:

    damn you @25
    There you go and show us how its done and spoil the magic for all of us.

  27. guest says:

    -@25
    That was really very helpful. Thank you very much.
    -@18

  28. Charlie says:

    "…says Alan Fournier…." Sure sign of a twit when he compares his former rice bowl to Buffett. Time to bail.

  29. guest says:

    24=racist. examine your motives.

  30. guest says:

    f you believe Bloomberg’s story the point is to indicate that “the best trades can be like found money.”
    But that’s not really the point. At least, we doubt that’s the point. The point really has to be to dramatically demonstrate a very old joke about the deficiencies of the Efficient Market Hypothesis.
    The joke is usually told along these lines. A finance professor is walking across the University of Chicago campus with a student. They come upon $20 lying on the ground, and the student leans down to pick it up. The professor said, “Don’t bother. If it was really there, somebody else would’ve already picked it up.”
    Tepper probably throws the $20 bill on the ground to point out that whatever you might think about the EMH, sometimes there really are $20 bills lying around and you’d be a fool not to pick them up.

  31. guest says:

    @30 no, the point is that that joke is funny once. he's a douche if he does it "often" and not making as good use of a $20 thrown on the ground as Ping Jiang would.

  32. guest says:

    30 = david tepper

  33. guest says:

    bringing back memories, I’m getting misty-eyed.
    -pj

  34. guest says:

    He looks so regal in that pic.

  35. guest says:

    Is that an Apple IIe in the background?
    What is he doing? Playing Oregon Trail?

  36. guest says:

    “Would you bend over and pick that up? Yeah, really put your back into it, just like that. That’s a good girl. Oh, I see you’re wearing the crotchless panties today, very nice. [sing-songy voice] Someone’s gonna get to execute his trade todayyyy. Okay now take that $20 and stick it in your mouth. Yeah, just like that. Don’t think I’m not doing this to make a point here, I am, and it will reveal itself right after you put this ball gag on.”
    this is eerily accurate. gives me the chills (and gets me a little excited too).
    -andrea tong

  37. Investorcluzo says:

    [sing-songy voice]… – just what I needed this morning, I just about spit up my drink…and I’ve got a meeting this afternoon! well done bessy.

  38. guest says:

    @25/TJB Thank you. Informative as ever.

  39. guest says:

    @5 seconded

  40. american bandersnatch says:

    “When he sees a fat pitch, he just keeps swinging and swinging”. Is he saying that Tepper doesn’t know how to time and size his trades?

  41. guest says:

    @7 shut your mouth when i’m talking to you.
    -DT

  42. guest says:

    when did corky start a hedge fund?

  43. guest says:

    that was kind of you not to use the photo bloomberg ran.

  44. guest says:

    The strippers usually get mad when I throw the $20 on the floor.
    ~Houston Natgas Trader

  45. guest says:

    I’ve never heard of him using the old “one armed man counting his change” analogy to prove any points in the trading room. What gives?

  46. guest says:

    @12 that’s coming in part 3 of The Secrets To David Tepper’s Success.

  47. guest says:

    If any of you need assistance on the “one armed man counting his change” reference, I do have some time available for a while.
    ~The Joke Briefer

  48. guest says:

    The first warning sign is when the comparisons to Buffett start.

  49. guest says:

    Bess,
    You complete me.

  50. guest says:

    -@14
    That would be much appreciated, thank you.

  51. guest says:

    @14 – yes, please. I am particularly curious how it relates to being busier than a one-armed paper hanger, or than a one-legged man in an ass-kicking contest.

  52. guest says:

    @19 it doesn’t relate b/c they’re completely separate jokes. idiot.

  53. guest says:

    @20 chill out… @19 wouldn’t be asking the joke briefer for help if he knew the joke in the first place

  54. guest says:

    @16 – That comment was absolutely dreadful. Were you abused as a child?

  55. american bandersnatch says:

    There is a saying that “In the land of the armless, the one armed man is king”.

  56. guest says:

    @AB no, the saying is “in the land of the blind, the one-eyed man is king.”
    and please, stick to jokes about tepper jerking it on the desk. thanks.

  57. guest says:

    Re: “The One-Armed Man Counting His Change”
    The parlor trick referred to as “The One-Armed Counting His Change” is usually at its most hilarious in mixed company after significant amounts of alcohol or other self-medicating drugs have been consumed.
    It is often displayed at office parties or at about 8:00 pm after work in bars and pubs and is usually reserved for an understanding and hard-to-offend audience. It frequently is reserved for those times after all G rated magic tricks ie “the sliding thumb, the salt shaker through the table” trick, tc., have been exhausted.
    To perform the “One -Armed Man Counting His Change” a male will produce an amount of pennies, nickels and dimes and quarters into the palm of his left hand, holding that change at about zipper level.
    Then, with his right hand and hidden from view, he will lower his pants zipper, stick his right hand into his pants and stick only his index finger out the zipper opening as though it wa a penis.
    Then the man will turn and face his audience and using only his index finger sticking through the zipper opening, he will finger the coins in his left hand as though he was counting them. Thus, he will announce, “Here is how a one-armed man counts his change!”
    The joke/trick has been popular since Greco-Roman times with some inferences in it to Egyptian dynasties and Chinese social discussions 7,000 years ago.
    Most recently it is alleged that it is extremely popular at a certain annual Omaha business event as well as among surviving investment banks.
    Limits to the joke consist of knowing who is in the audience or being aware of an attending viewer who is related to a one -armed man.
    Sincerely,
    ~The Joke Briefer

  58. guest says:

    Re: “The One-Armed Man Counting His Change”
    The parlor trick referred to as “The One-Armed Counting His Change” is usually at its most hilarious in mixed company after significant amounts of alcohol or other self-medicating drugs have been consumed.
    It is often displayed at office parties or at about 8:00 pm after work in bars and pubs and is usually reserved for an understanding and hard-to-offend audience. It frequently is reserved for those times after all G rated magic tricks ie “the sliding thumb, the salt shaker through the table” trick, tc., have been exhausted.
    To perform the “One -Armed Man Counting His Change” a male will produce an amount of pennies, nickels and dimes and quarters into the palm of his left hand, holding that change at about zipper level.
    Then, with his right hand and hidden from view, he will lower his pants zipper, stick his right hand into his pants and stick only his index finger out the zipper opening as though it wa a penis.
    Then the man will turn and face his audience and using only his index finger sticking through the zipper opening, he will finger the coins in his left hand as though he was counting them. Thus, he will announce, “Here is how a one-armed man counts his change!”
    The joke/trick has been popular since Greco-Roman times with some inferences in it to Egyptian dynasties and Chinese social discussions 7,000 years ago.
    Most recently it is alleged that it is extremely popular at a certain annual Omaha business event as well as among surviving investment banks.
    Limits to the joke consist of knowing who is in the audience or being aware of an attending viewer who is related to a one -armed man.
    Sincerely,
    ~The Joke Briefer

  59. GUEST says:

    damn you @25
    There you go and show us how its done and spoil the magic for all of us.

  60. GUEST says:

    damn you @25
    There you go and show us how its done and spoil the magic for all of us.

  61. guest says:

    -@25
    That was really very helpful. Thank you very much.
    -@18

  62. guest says:

    -@25
    That was really very helpful. Thank you very much.
    -@18

  63. guest says:

    Pitt undergrad?

  64. Charlie says:

    “…says Alan Fournier….” Sure sign of a twit when he compares his former rice bowl to Buffett. Time to bail.

  65. Charlie says:

    “…says Alan Fournier….” Sure sign of a twit when he compares his former rice bowl to Buffett. Time to bail.

  66. guest says:

    24=racist. examine your motives.

  67. guest says:

    24=racist. examine your motives.

  68. guest says:

    f you believe Bloomberg’s story the point is to indicate that “the best trades can be like found money.”
    But that’s not really the point. At least, we doubt that’s the point. The point really has to be to dramatically demonstrate a very old joke about the deficiencies of the Efficient Market Hypothesis.
    The joke is usually told along these lines. A finance professor is walking across the University of Chicago campus with a student. They come upon $20 lying on the ground, and the student leans down to pick it up. The professor said, “Don’t bother. If it was really there, somebody else would’ve already picked it up.”
    Tepper probably throws the $20 bill on the ground to point out that whatever you might think about the EMH, sometimes there really are $20 bills lying around and you’d be a fool not to pick them up.

  69. guest says:

    f you believe Bloomberg’s story the point is to indicate that “the best trades can be like found money.”
    But that’s not really the point. At least, we doubt that’s the point. The point really has to be to dramatically demonstrate a very old joke about the deficiencies of the Efficient Market Hypothesis.
    The joke is usually told along these lines. A finance professor is walking across the University of Chicago campus with a student. They come upon $20 lying on the ground, and the student leans down to pick it up. The professor said, “Don’t bother. If it was really there, somebody else would’ve already picked it up.”
    Tepper probably throws the $20 bill on the ground to point out that whatever you might think about the EMH, sometimes there really are $20 bills lying around and you’d be a fool not to pick them up.

  70. guest says:

    @30 no, the point is that that joke is funny once. he’s a douche if he does it “often” and not making as good use of a $20 thrown on the ground as Ping Jiang would.

  71. guest says:

    @30 no, the point is that that joke is funny once. he’s a douche if he does it “often” and not making as good use of a $20 thrown on the ground as Ping Jiang would.

  72. guest says:

    30 = david tepper

  73. guest says:

    30 = david tepper

  74. guest says:

    @25/TJB Thank you. Informative as ever.

  75. guest says:

    Why would anybody dress up a swine in a wool suit? that's just sick.

  76. guest says:

    Pitt undergrad?

  77. guest says:

    Pitt undergrad?

  78. guest says:

    Why would anybody dress up a swine in a wool suit? that’s just sick.

  79. guest says:

    Why would anybody dress up a swine in a wool suit? that’s just sick.

  80. […] of the year and while you might’ve thought differently at the time, it turns out keeping a pair of brass testicles on your desk and rubbing them at various intervals throughout the day for good luck isn’t so silly or […]

  81. Anonymous says:

    Reminds me of the Mad TV Deal Or No Deal superstition sketch.

  82. Anonymous says:

    Reminds me of the Mad TV Deal Or No Deal superstition sketch.

  83. Anonymous says:

    Reminds me of the Mad TV Deal Or No Deal superstition sketch.

  84. […] earners of the year and while you might’ve thought differently at the time, it turns out keeping a pair of brass testicles on your desk and rubbing them at various intervals throughout the day for good luck isn’t so silly or […]

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