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Sep 18, 2025 4:00 PM

Billionaire David Tepper Won't 'Fight The Fed'—But He Hates This Market

Billionaire investor David Tepper thinks stocks are considerably overvalued, but remains in the market because his number one rule is to never fight the Federal Reserve.

NVDA stock is moving higher. See the real-time price action here. 

"Don't Fight The Fed"

Tepper told CNBC on Thursday that his hedge fund Appaloosa Management remains bullish on the market, but only because the Fed has begun cutting rates. 

Read Next: NBA Star Kevin Durant Forgot His Coinbase Password—And Bitcoin Soared 11,000% 

The hedge fund manager sees valuations as way too high and the market "frothy" with excess liquidity.  ...