Tepper: It’s a tech bubble

Via the AFR:

Appaloosa Management’s David Tepper sounded a strong note of pessimism on the state of the stock market, calling it the most overvalued ever outside of the bubble of 1999.

Valuations on some individual stocks on the Nasdaq are “nuts,” Tepper told CNBC on Wednesday.

“People have to be very careful about some of these smaller Nasdaq names that are just nuts,” said Mr Tepper. Some are “ridiculously” overvalued. One that’s probably not, he said, is Amazon.

A few charts for ya:

You don’t say.

David Llewellyn-Smith
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