Saturday, November 13, 2010

They Said BUY But Then They SOLD!

Saw the following posting at ZH:

  • Guess who, after on September 24 David Tepper almost screamed that he was "balls to the wall long" and EVERYTHING was about to go up on QE2, you were very likely buying shares Bank of America and Citigroup from? Why, David Tepper, that's who. In Tepper's just released Q3 13F, the Appaloosa fund manager disclosed that in the quarter ended September 30, one week after his pompous, self-serving speech on CNBC served as a reason to pump the market up by almost 2%, he sold 18% of his BofA holdings (his largest holding both at June 30 and September 30), 11% of Citi, 19% of Wells Fargo, 19% of Fifth Third, 19% of Capital One, 75% of his then $157 million Hartford Financial position, and lighten up on pretty much all of his other financial positions. And congratulations to CNBC for serving as the medium which David Tepper manipulated to his advantage

Source: David Tepper Dumps 20% Of Financial Holdings During Quarter Of Infamous CNBC Speech

Now who and what does this reminds me of?




Kris said...

He only did it once..In BOLEHLand, you can do multiple times until you became a billionaire..that statement according to sources though.
Hahha :p