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Fortune
Fortune
Will Daniel

A billionaire investor who calls himself an ‘optimist’ is leaning short on stocks for this reason

Carolina Panthers owner David Tepper is seen on the sideline prior to the game against the Seattle Seahawks at Lumen Field on December 11, 2022 in Seattle, Washington. (Credit: Jane Gershovich—Getty Images)

These days, David Tepper is probably best known as the owner of the NFL’s Carolina Panthers. But before his time in the owner’s suite, the billionaire made his name as a hedge fund titan.

Tepper founded Appaloosa Management in 1993 after honing his skills as a credit analyst at Goldman Sachs, and has been known to make risky bets when others are fearful. Appaloosa famously made $7 billion by gobbling up beaten down bank stocks in 2009 after the Great Financial Crisis. 

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