Friday, June 13, 2014

Thoughts on David Tepper

David Tepper is a boss.

A man who "wasn't an A student in high school", and attended the University of Pittsburgh, landed a credit analyst position at a crappy bank, and then earned his MBA at Carnegie Mellon. With his MBA he got a job at a smaller mutual fund complex, and in two years earned his desk at Goldman Sachs. According to his highly ridiculous wikipedia page, he started as a high yield credit analyst at GS and within six months on the job, was appointed head of high yield trading. That paragraph is not footnoted in wikipedia.

What is footnoted and documented in various financial periodicals, is that he was in contention for various high ranking executive positions within GS. He was denied these critical promotions and promptly quit to establish his own hedge fund. With his hedge fund wealth, he subsequently purchased the mansion of his former boss who snubbed him for the promotion at GS (Disgraced CEO and Former Senator Jon Corzine).  He razed the home to the ground, and built a newer, and two times larger, home in its place. This home was in the Hamptons, and this home cost Tepper 43 million dollars to purchase, and an additional undisclosed sum to demolish and rebuild. Public multi-million dollar revenge must be sweet.

He likes to show up on CNBC once in a while and tell people whats what. He moves the entire financial markets when he gives interviews.

All around ridiculous and philanthropic guy.

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