Several news outlets are reporting today that David Tepper's hedge fund will make about $7 billion in profit this year. The fund boss himself is likely to take home around $2.5 billion of that. That's an awful lot. In a year when unemployment climbed into double-digits, a payday like that might anger some people. They might say that such an obscene profit at a time when so many Americans are suffering is exactly what's wrong with Wall Street. Yet, according to what I understand about how the fund made its money this year, I find it hard to criticize Tepper: he bet on America.
http://business.theatlantic.com/2009/12/a_hedge_funds_optimism_leads_to_a_7_billion_year.php
