An Investor Who Put $1 Million Into Appalossa Managment In 1993 Would Have Enough Money To Buy And Bulldoze Several Of Jon Corzine's Houses Today

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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]

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