It appears that Appaloosa Management founder David Tepper has turned cautious on the markets. In a recent interview with the NY Post, Tepper has interjected some common sense and says that "when things go up too high, they will go down."
The hedge fund manager seems to be advocating taking some profits and reducing risk, or at the very least, bracing for any potential impact. From the NY Post, "Tepper said while 'the biggest opportunities' will remain in equities, 2011 will be 'harder and not without risk.' "
Tepper Turning Cautious
It appears David Tepper has turned cautious. From Market Folly: