Hedge fund manager David Tepper said Monday he is buying some stocks after the markets had their worst week in a decade.
It’s still a tough market, and investors have to be careful about their exposures, he told CNBC’s Scott Wapner on Monday. But the market’s move lower on Monday after last week’s sharp sell-off presented an opportunity “to nibble at some stocks.”
The Dow Jones Industrial Average tumbled more than 200 points on Monday, but were up from their lows. The index is on its way for its worst December since the 1930s. Tepper, whose Appaloosa Management has $14 billion in assets under management, told CNBC in October he was “cautious” on the market.
President Donald Trump and members of his administration have bristled in recent days over the market’s decline. Trump has criticized the Federal Reserve’s interest rate hikes, saying in a tweet on Monday that “The only problem our economy has is the Fed. They don’t have a feel for the Market.”