David Tepper’s Appaloosa Management LP returned 17 percent in the first half of the year, according to a letter sent to investors last week...His returns this year have beaten the Standard & Poor’s 500 Index, which was up 14 percent with dividends reinvested, and event-driven funds, which returned 5.3 percent, according to Hedge Fund Research Inc. Appaloosa, based in Short Hills, New Jersey, has returned 28 percent a year, on average, since it started, said the letter, signed by Tepper. The firm celebrated its 20th anniversary last month. An investor who put $1 million into the fund in 1993, would have $149 million today, it said. [Bloomberg, related]
David Tepper Completes 5-Year, 11k Square Foot, Multi-Million Dollar Effort To Tell Jon Corzine "You Can't Hurt Me Anymore"
The hedge fund manager and billionaire is safe now.
Bill Ackman Thanks Investors In Advance For Going Down With The Ship
The hedge fund manager has told investors to buckle the f*ck up re: year end performance; they've responded "Anything for you, Bill."