David Tepper To Appear On CNBC's Squawk Box Tomorrow

Billionaire hedge fund manager David Tepper will be appearing on CNBC's Squawk Box tomorrow morning. In September, the Appaloosa Management founder went on CNBC and said that stocks would rise because the Federal Reserve had essentially given investors a free "put option" on the market.

He said, "Either the economy is going to get better by itself in the next three months...What assets are going to do well? Stocks are going to do well, bonds won't do so well, gold won't do as well," he said. "Or the economy is not going to pick up in the next three months and the Fed is going to come in with QE.

"Then what's going to do well? Everything, in the near term (though) not bonds...So let's see what I got—I got two different situations: One, the economy gets better by itself, stocks are better, bonds are worse, gold is probably worse. The other situation is the fed comes in with money."

Tepper's call proved extremely prescient. His appearance and statements coincided with a huge rally in U.S. equity markets and his hedge fund rose 21% for 2010. According to reports, trading desks have been buzzing today about Tepper's return to Squawk Box, and it is safe to say that his comments have the potential to move the market tomorrow. Many credited him with a huge rally that occurred on the day of his last appearance.

Businessinsider.com is reporting that Mr. Tepper is no longer so bullish. In a recent interview with the New York Post, he said "When things go up too high, they will go down." He added that "the biggest opportunities" will be in stocks, but 2011 will be "harder and not without risk."