An Investor Who Put $1 Million Into Appalossa Managment In 1993 Would Have Enough Money To Buy And Bulldoze Several Of Jon Corzine’s Houses Today

An Investor Who Put $1 Million Into Appalossa Managment In 1993 Would Have Enough Money To Buy And Bulldoze Several Of Jon Corzine’s Houses Today

David Tepper’s Appaloosa Management LP returned 17 percent in the first half of the year, according to a letter sent to investors last week…His returns this year have beaten the Standard & Poor’s 500 Index, which was up 14 percent with dividends reinvested, and event-driven funds, which returned 5.3 percent, according to Hedge Fund Research Inc. Appaloosa, based in Short Hills, New Jersey, has returned 28 percent a year, on average, since it started, said the letter, signed by Tepper. The firm celebrated its 20th anniversary last month. An investor who put $ 1 million into the fund in 1993, would have $ 149 million today, it said. [Bloomberg, related]

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