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So, you wonder what Tepper is up to.......?

sml1950

By sml1950,
in Carolina Panthers

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sml1950 Newbie

sml1950

Posted
Posted

....or down to.  His 3rd Q filing for Appoloosa report a 35% decline in value!!!! and this before the last 3months which were among the worst on record:

https://seekingalpha.com/article/4223833-tracking-david-teppers-appaloosa-management-portfolio-q3-2018-update

 

He apparently has liquidated many positions and has to be worried about redemptions as much as the volatility of the market.  So following Rivera and Hurney are WAY behind following the tweets from DC.  If he wants to replace anyone, it’s the bipolar guy sitting behind the Resolute desk in the Oval Office.

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Khyber53 Grand Master

Khyber53

Posted
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30 minutes ago, sml1950 said:

....or down to.  His 3rd Q filing for Appoloosa report a 35% decline in value!!!! and this before the last 3months which were among the worst on record:

https://seekingalpha.com/article/4223833-tracking-david-teppers-appaloosa-management-portfolio-q3-2018-update

 

He apparently has liquidated many positions and has to be worried about redemptions as much as the volatility of the market.  So following Rivera and Hurney are WAY behind following the tweets from DC.  If he wants to replace anyone, it’s the bipolar guy sitting behind the Resolute desk in the Oval Office.

I kinda pointed this out back when folks were screaming that Tepper needed to come out and address them right now about RR and MH. 

SMH

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Squirrel Collaborator

Squirrel

Posted
Posted
31 minutes ago, sml1950 said:

....or down to.  His 3rd Q filing for Appoloosa report a 35% decline in value!!!! and this before the last 3months which were among the worst on record:

https://seekingalpha.com/article/4223833-tracking-david-teppers-appaloosa-management-portfolio-q3-2018-update

 

He apparently has liquidated many positions and has to be worried about redemptions as much as the volatility of the market.  So following Rivera and Hurney are WAY behind following the tweets from DC.  If he wants to replace anyone, it’s the bipolar guy sitting behind the Resolute desk in the Oval Office.

He has been saying he just hoarding cash for the past 3 months. He has some positions but he been waiting to go lower. 

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GeorgeHanson Newbie

GeorgeHanson

Posted
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37 minutes ago, sml1950 said:

....or down to.  His 3rd Q filing for Appoloosa report a 35% decline in value!!!! and this before the last 3months which were among the worst on record:

https://seekingalpha.com/article/4223833-tracking-david-teppers-appaloosa-management-portfolio-q3-2018-update

 

He apparently has liquidated many positions and has to be worried about redemptions as much as the volatility of the market.  So following Rivera and Hurney are WAY behind following the tweets from DC.  If he wants to replace anyone, it’s the bipolar guy sitting behind the Resolute desk in the Oval Office.

I think you might misunderstand what's going on here.

The value of the investments held by Appaloosa is 35% less than the last time they filed the same report.  This is driven by him selling off a lot of positions and going to cash.

Example: 

Filing 1:  Investor has 10 different positions worth $10 each..."portfolio value" = $100. 

Filing 2:  Investor has 6 positions worth $10 each..."portfolio value" = $60.  Cash = $40.  

In both cases total value = $100.  The "portfolio value" is down 40% but no money has been lost.

No idea if he has made or lost money on an absolute basis but he's not down 35%.

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top dawg Grand Master

top dawg

Posted
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1 hour ago, GeorgeHanson said:

I think you might misunderstand what's going on here.

The value of the investments held by Appaloosa is 35% less than the last time they filed the same report.  This is driven by him selling off a lot of positions and going to cash.

Example: 

Filing 1:  Investor has 10 different positions worth $10 each..."portfolio value" = $100. 

Filing 2:  Investor has 6 positions worth $10 each..."portfolio value" = $60.  Cash = $40.  

In both cases total value = $100.  The "portfolio value" is down 40% but no money has been lost.

No idea if he has made or lost money on an absolute basis but he's not down 35%.

Thanks for putting that in a way that's understandable.

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TheSpecialJuan Grand Master

TheSpecialJuan

Posted
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1 hour ago, GeorgeHanson said:

I think you might misunderstand what's going on here.

The value of the investments held by Appaloosa is 35% less than the last time they filed the same report.  This is driven by him selling off a lot of positions and going to cash.

Example: 

Filing 1:  Investor has 10 different positions worth $10 each..."portfolio value" = $100. 

Filing 2:  Investor has 6 positions worth $10 each..."portfolio value" = $60.  Cash = $40.  

In both cases total value = $100.  The "portfolio value" is down 40% but no money has been lost.

No idea if he has made or lost money on an absolute basis but he's not down 35%.

Excellent explanation, thanks 

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GeorgeHanson Newbie

GeorgeHanson

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22 minutes ago, top dawg said:

Thanks for putting that in a way that's understandable.

Sure thing.

One other thing to keep in mind as it goes to Appaloosa (and other hedge funds), they don't have to report the cash position, nor do they have to report their short positions. 

Clearly Tepper has been taking money off the table on the long side (makes money if stock price goes up), and I'm highly confident he's got his foot on the gas and is simultaneously adding to his book of short positions (makes money if the stock price goes down).

For those who might own a stock or two and want to see if Tepper owns any of the same names, all his long positions can be viewed here: 

https://www.sec.gov/Archives/edgar/data/1656456/000165645618000007/xslForm13F_X01/Form13FInfoTable.xml

Market volatility is something guys like Tepper thrive on....I suspect he's having a good year (but that's just a guess).

 

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