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Live-Blogging The David Tepper CNBC Appearance

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7:59 The last time the Appaloosa founder was on CNBC he sparked the "Tepper-Rally" in the stock market and Joe Kernen came thisclose to fellating him on live TV. What are we in store for today? Stay tuned.

8:03: Kernen describes Tepper's appearance this morning as being as hotly anticipated as the LeBron James decision.

8:05: JK, a television anchor: "I know you hate TV, so we thank you so much for coming on. I hate TV too!" (Samesies!)

8:10 Tepper has started a campaign to raise $15 million to feed the needy in New Jersey. Bank of America, JPMorgan and other NJ hedge funds have committed almost $9 million to the charity. It's a good cause! Read more about it here.

8:15 Kernen wants to get back to how hot Tepper looks. A picture of Brass Balls that ran in the Post is shown; JK tells him, "You've never looked better."

8:17: Tepper says "QE2 worked."

8:22 Tepper thinks it'll be 15-20 years before employment levels get back to where they were.

8:30 DT: "We're no longer in an everything will go up kind of market"

8:32 "You've still got to worry about Europe. You've got to worry about China a little bit. We are at a higher level, but pretty darn good. So you can't be too negative but you can't be uncautious."

8:35 Appaloosa is long Dean Foods Co because they like almond milk, soy milk and stuff like that; they also like semiconductors and equipment companies, including Micron Tech

8:37 Currencies and gold are "tough right now," oil and other industrial commodities will be stronger due to global growth

8:41 Tepper informs Joe Appaloosa has a bet going re whether or not he wears a rug.

8:43 Teppo won't bet on the outcome of the Steelers/Jets game only because NFL ownership rules preclude him from doing so.

8:45 Joe: When will we get to see you again? Tepper: I'm not going anywhere Joe, don't worry. Joe: I just...we just like to be able to keep up with you.

Update: Re-live the loving glances:

Part II and Part III.