David Tepper

David Tepper is an American billionaire and the founder of the hedge fund Appaloosa Management, known for his investments in distressed assets and his contrarian approach to the market. For example, during the 2008 financial crisis, he bought shares and bonds of banks such as Bank of America and Citigroup when their prices were at historic lows. As a result, when the market recovered, Appaloosa generated a profit of $7 billion. Tepper specializes in stocks and bonds of companies on the brink of bankruptcy, building positions based on the expected market reaction to actions by the Federal Reserve, the government, and crises. He is known for acting when most investors are gripped by panic. In Tepper’s office, there is a pair of brass testicles — a gift from former employees. He considers them a talisman and sometimes rubs them for luck during trading sessions.