TEPPER: One presidential candidate is 'demented, narcissistic, and a scum bag'
Reuters
And in a wide-ranging interview with CNBC's Scott Wapner on Monday, he had some choice words for one of the presidential candidates.
"One of them has bad judgment, and the other one is a demented, narcissistic and a scum bag," Tepper said. "I'll let you decide which one."
Tepper, who is well-known on Wall Street for his blunt manner, has historically leaned toward the Democratic party, though he has supported candidates on both sides of the aisle. This year, he said, he has not financially supported either candidate for president.
And now, the market
Of course, the market is waiting for the outcome of this election. For now, Tepper is "pretty conscious on the market, not outright bearish." He's invested his fund mostly in the bond market, and has gone into cash.
"We're pretty light in the stock market," he said. "I just don't see the market's ability to go up that much."
Here's how he looks at the potential outcome of the election: If the Democrats take the Senate as well as the White House we'll see a more highly regulated environment - "highly anti-bank... anti-pharmaceuticals," Tepper mused.
If the stock market then goes down based on this situation, Tepper thinks the Federal Reserve may become more dovish, and push off raising rates. This, he believes, it will do at its own peril.
"A steeper yield curve is better for all of these economies," he said, referring to Germany, the UK, and the US. Higher yields would help banks - especially ailing banks in the EU - and state pension funds, for example.
Wapner asked him if this view means that he's shorting bonds.
"I'm not long them," Tepper responded.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market