{"id":76514,"date":"2024-09-26T19:00:12","date_gmt":"2024-09-26T19:00:12","guid":{"rendered":"http:\/\/guid_108039525"},"modified":"2024-09-26T19:00:12","modified_gmt":"2024-09-26T19:00:12","slug":"david-teppers-big-bet-after-the-fed-rate-cut-was-to-buy-everything-related-to-china","status":"publish","type":"post","link":"https:\/\/wp.timesamerica.net\/david-teppers-big-bet-after-the-fed-rate-cut-was-to-buy-everything-related-to-china\/","title":{"rendered":"David Tepper&#8217;s big bet after the Fed rate cut was to buy &#8216;everything&#8217; related to China"},"content":{"rendered":"\n<div><img decoding=\"async\" src=\"https:\/\/wp.timesamerica.net\/wp-content\/uploads\/2024\/09\/david-teppers-big-bet-after-the-fed-rate-cut-was-to-buy-everything-related-to-china.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p><span hidden aria-hidden=\"true\" class=\"ArticleBody-extraData\"><span hidden aria-hidden=\"true\" class=\"ArticleBody-extraData\"><span hidden aria-hidden=\"true\" class=\"xyz-data\">Billionaire hedge fund founder David Tepper said his big bet after the Federal Reserve&#8217;s rate cut was to buy Chinese stocks. &#8220;I thought that what the Fed did last week would lead to China easing, and I didn&#8217;t know that they were going to bring out the big guns like they did,&#8221; Tepper told CNBC&#8217;s &#8220;Squawk Box&#8221; on Thursday. &#8220;And I think there&#8217;s a whole shift.&#8221; &#8220;We got a little bit longer, more Chinese stocks,&#8221; Tepper continued. &#8220;And so, I have limits, historic limits. I probably said a long time ago, I don&#8217;t go above 10% or 15%. Well, that&#8217;s probably not true anymore.&#8221; In fact, the founder of Appaloosa Management said he may have doubled his limit to China equities, saying he bought more of &#8220;everything&#8221; such as large-cap tech giants Alibaba and Baidu after the U.S. lowered interest rates earlier this month. &#8220;It&#8217;s everything. Now, I would love to see a pullback, OK,&#8221; he said. &#8220;I will have another newfound limit, OK, in a pullback.&#8221; Tepper has grown optimistic on the China market this month after state media on Thursday afternoon said Chinese President Xi Jinping and other top leaders affirmed the government&#8217;s efforts to stimulate the economy. That comes after China earlier this week unveiled interest rate cuts , as well as other measures to support the property market. &#8220;They promised to do more and more and more. OK? And that&#8217;s very strange language, especially for, you know, any central banker, but especially over there,&#8221; Tepper said. &#8220;And last night, you know, we heard that they were going to have some kind of meeting, but they kind of blew away expectations on the fiscal stimulus.&#8221; FXI 1D mountain iShares China Large-Cap ETF The iShares China Large-Cap ETF (FXI) rallied more than 6% following Tepper&#8217;s comments, extending its gains from a winning session for Chinese and Hong Kong stocks. Tepper also noted the Chinese market is cheaper than U.S. equities. &#8220;You&#8217;re sitting there with single multiple P\/Es with double-digit growth rates for the big stocks that trade over here,&#8221; Tepper said. &#8220;That&#8217;s kind of versus what, you know, the 20-plus on the S &amp; P.&#8221; As part of a China play, Tepper said that he would buy Wynn Resorts and Las Vegas Sands . The casino stocks popped 7% and nearly 6%, respectively. To be sure, rising geopolitical concerns including further tariffs between the U.S. and China have spooked many investors away from the China market. However, Tepper dismissed those risks. &#8220;My counter bet is that I don&#8217;t care,&#8221; he said.<\/span><\/span><\/span><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire hedge fund founder David Tepper said his big bet after the Federal Reserve&#8217;s rate cut was to buy Chinese stocks. &#8220;I thought that what the Fed did last week would lead to China easing, and I didn&#8217;t know that they were going to bring out the big guns like they did,&#8221; Tepper told CNBC&#8217;s &hellip;<\/p>\n","protected":false},"author":1,"featured_media":76515,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-76514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bussiness","has-thumb","has-featured"],"_links":{"self":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/posts\/76514"}],"collection":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/comments?post=76514"}],"version-history":[{"count":0,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/posts\/76514\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/media\/76515"}],"wp:attachment":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/media?parent=76514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/categories?post=76514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/tags?post=76514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}