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DAVID TEPPER
Appaloosa Management.

Opportunistic Event-Driven Getting Back to Basics

Located in Chatham, New Jersey, a 45-minute drive from New York City, Appaloosa Management has a suburban mood and setting. During my visit, David Tepper, 43, spoke openly and candidly about his business. He had recently made the decision to shrink the business and go back to its original core. At $1.6 billion, he felt the portfolio was too big. By returning money to investors, he believed the firm could become more focused and be more profitable. He estimated the optimal size to be about $1 billion.

Tepper wants to bring more discipline to the firm. "I want to get rid of the more fluffy positions and only have great positions on rather