The Minutes of David Tepper on equities https://minutesof.com/david-tepper/on/equities/ Everything David Tepper has said on equities: 14 verbatim quotes between March 2017 and September 2025, each with a timestamp and a link to the recording… en Sun, 30 Aug 2026 16:22:30 +0000 Tepper says Chinese stocks trade at low teens multiples versus US, making them relatively interesting. https://minutesof.com/q/f2abcc3b-626a-46a3-b6c9-4ef8408390a6/ https://minutesof.com/q/f2abcc3b-626a-46a3-b6c9-4ef8408390a6/ “I mean, I think the move has been good, the earnings unlike here are still relatively low. I mean, you're, you know, you're talking, you know, low teens versus where we are.” — CNBC Television Thu, 18 Sep 2025 14:00:10 +0000 equities Tepper says he's miserable despite a good year because he owns the market at high multiples. https://minutesof.com/q/92f89f1d-c9d3-4011-950d-442852b23b38/ https://minutesof.com/q/92f89f1d-c9d3-4011-950d-442852b23b38/ “I I we're having a really good year, and I'm so miserable for having a really good year. Because I still own the market, and I can't stand that I own the market.” — CNBC Television Thu, 18 Sep 2025 14:00:10 +0000 equities Tepper is constructive on Fed easing but concerned about high market valuation levels. https://minutesof.com/q/be7afe27-0406-451e-91b9-b5e22023b0d9/ https://minutesof.com/q/be7afe27-0406-451e-91b9-b5e22023b0d9/ “I'm constructive because of the easing right now, but I'm also miserable because of the levels.” — CNBC Television Thu, 18 Sep 2025 13:39:12 +0000 equities Tepper says big stocks aren't cheap but he won't fight the Fed in the near term. https://minutesof.com/q/774780b5-935f-44a0-9575-8d749e76b28f/ https://minutesof.com/q/774780b5-935f-44a0-9575-8d749e76b28f/ “The big stocks are not cheap. I mean, so you don't have cheapness here, but you do have a constructive you know, like, you know, I'm not fighting the Fed.” — CNBC Television Thu, 18 Sep 2025 13:39:12 +0000 equities Tepper says he strongly prefers split government and is pleased with current electoral outlook. https://minutesof.com/q/4df41b6f-61dc-4954-b90b-a2d3ba22381a/ https://minutesof.com/q/4df41b6f-61dc-4954-b90b-a2d3ba22381a/ “I am a big proponent of split government. And right now, as you're more than aware of Yep. It looks like the senate is, republican and the house is democratic, and I'm loving life.” — CNBC Television Thu, 26 Sep 2024 13:48:15 +0000 equities Tepper explains split government is best for markets and economy, rejecting either party's sweep. https://minutesof.com/q/7f0a35e9-f1e7-435b-98d1-b9c2a267aca7/ https://minutesof.com/q/7f0a35e9-f1e7-435b-98d1-b9c2a267aca7/ “But from a from this market perspective, an economic perspective, what's good for the economy, I wanna split government. And I don't want all Democrats, and I don't want all Republicans.” — CNBC Television Thu, 26 Sep 2024 13:48:15 +0000 equities Tepper warns markets could face problems if election results surprise split-government expectations. https://minutesof.com/q/dfd0fc7f-cedd-4b4f-ade9-dc6ff4d80e4f/ https://minutesof.com/q/dfd0fc7f-cedd-4b4f-ade9-dc6ff4d80e4f/ “So if it gets surprised, that could be a problem for the markets. But as long as it's a split, the market's gonna be fine.” — CNBC Television Thu, 26 Sep 2024 13:48:15 +0000 equities Tepper says he likes NVIDIA at current price levels despite earlier concerns. https://minutesof.com/q/862a1cf4-455c-4b61-b579-c473ef90b49f/ https://minutesof.com/q/862a1cf4-455c-4b61-b579-c473ef90b49f/ “I I I kinda like NVIDIA, the price. Okay? So don't get me wrong. I I I could just love it.” — CNBC Television Thu, 26 Sep 2024 13:48:15 +0000 equities Tepper says China is creating swap facilities to buy stocks as part of aggressive easing measures. https://minutesof.com/q/a30218f5-b337-4bb8-a6ea-60d0f24464f7/ https://minutesof.com/q/a30218f5-b337-4bb8-a6ea-60d0f24464f7/ “And they're gonna be they're aggressive in how they're gonna do it, and they're they're also, believe this or not, swap facilities to buy stocks.” — CNBC Television Thu, 26 Sep 2024 13:30:27 +0000 equities Tepper says he is leaning short on equities because risk-reward doesn't make sense given central bank guidance https://minutesof.com/q/f6a66f50-d08c-4d95-bed6-8836c265720e/ https://minutesof.com/q/f6a66f50-d08c-4d95-bed6-8836c265720e/ “I would probably say I'm leaning short on the equity markets, you know, so right now, because I think they're, you know, I think the upside downside just doesn't make sense to me when I have so many people telling me, so many central banks telling me what they're going to do,” — CNBC Television Thu, 22 Dec 2022 14:39:54 +0000 equities Tepper questions high equity multiples on S&P 220 earnings estimates given current interest rate levels. https://minutesof.com/q/7803d44c-a9db-43ce-8205-b01868cbc581/ https://minutesof.com/q/7803d44c-a9db-43ce-8205-b01868cbc581/ “I saw somebody else on your show the other day, they had a two twenty price to two twenty earnings estimates for the S and P.” — CNBC Television Thu, 22 Dec 2022 14:39:54 +0000 equities Tepper notes going from a 12 to 16 multiple would represent a 33% market increase. https://minutesof.com/q/5ad1586a-d94a-4223-8d91-97a6689f9853/ https://minutesof.com/q/5ad1586a-d94a-4223-8d91-97a6689f9853/ “If it's a 16 multiple, in those days you would have said great going from twenty ten. We talked about those days. I go to twelve, sixteen, that's a 33% increase.” — CNBC Television Thu, 22 Dec 2022 14:39:54 +0000 equities Tepper believes stock market may have hit its yearly high due to interest rates around 3%. https://minutesof.com/q/05e3e728-8ed3-445f-bf17-5521e85ca9b4/ https://minutesof.com/q/05e3e728-8ed3-445f-bf17-5521e85ca9b4/ “And it really has to do with interest rates. I'm not sure we're right on the cusp of breaking out on interest rates at this level, around 3%.” — B.E.S.T. Sun, 06 May 2018 00:11:47 +0000 equities Tepper sees nothing negative for small businesses with deregulation and tax cuts ahead. https://minutesof.com/q/17cb36c3-dbaa-4131-b502-083b90d9de27/ https://minutesof.com/q/17cb36c3-dbaa-4131-b502-083b90d9de27/ “If you're a small business, you there's nothing negative on the horizon. Nothing. What's negative? They're gonna give you less regulations for Obamacare. They're gonna give you a tax cut.” — CNBC Wed, 08 Mar 2017 14:54:29 +0000 equities