David Tepper: I don’t see overvaluation in the marketJacob Wolinsky
CNBC’s Scott Wapner reports on his conversation with David Tepper, Appaloosa, about his bullish look on the market. The “Fast Money Halftime Report” traders weigh in.
Script from CNBC
SCOTT WAPNER: Let's begin with the markets today. As we said, the Dow crossing 25,000 for the first time ever, an incredible run that some see continuing for a while. New at noon, I spoke exclusively to Appaloosa's David Tepper today who told me the following when I asked him what he thought about stocks right now – it was clear he was very positive telling me – quote - "Explain to me where this market is rich? It's not rich with the tax thing that just changed earnings projections. With earnings forecasts going up and interest rates where they are, how is this market expensive?" He said "I don't see the overvaluation. World growth is higher. There's no inflation. The market coming into this year doesn't look rich, in fact, it looks almost as cheap as coming into last year." He said, "The market can't go down until the bond market gets hit. It's amazing where interest rates are."