The brass balls have taken a bit of a beating this year, which means he’s going to have to make due with a bit less than $3.5 billion. It also means that he may have been a bit premature when he warned everyone not to “be too fricking long” back in May, and certainly when he then took his own advice. Well, he’s “longer” now, and not too fricking long, either, because the ride isn’t over yet. Six years into the frothy market rally, it hasn’t even begun.
Billionaire hedge fund manager David Tepper said the S&P 500 is "fairly valued" but that it could rise another 8 to 10 percent from current levels….
"It's not the time to be careful now. Enjoy the ride," Tepper said. But he also warned that investors should be aware of overvaluation. "Don't get too comfortable when the ride starts. The ride hasn't started yet."