Wall Street tycoon David Tepper: heavily betting on Chinese stocks, buying everything, not fond of US stocks.
Tepper has become one of the famous long investors in Chinese stocks among hedge fund investors. He stated that Chinese stocks are much cheaper than US stocks, and he may double the investment limit for Chinese stocks. According to last month's form 13f filing, Chinese stocks and ETFs account for 26% of his fund's stock investment portfolio. Tepper said that the scale of China's loose policies exceeded his expectations, and he had already bought almost all major Chinese technology stocks. He also estimated that the Fed will cut interest rates two to three times, and mentioned that the Fed's rate cuts in a good economy make him nervous. Although he doesn't like US stocks, he will not short them.
The US Department of Justice is investigating super micro computer, causing the stock price to drop by more than 12%, nvidia briefly reversed intraday.
Regarding the short-term plunge in nvidia's stock price, some social media users mentioned that super micro computer, nvidia's third largest customer, is under investigation by the Department of Justice for "accounting irregularities", making it hard not to associate the negative news with nvidia.
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US Stock Outlook | Chinese securities are booming across the board! Pinduoduo, JD, and Station B soared by more than 11% before the market; Micron exploited “AI faith”! Pre-market riots in chip stocks
Optimism continues to spread, with strong gains in the Asia-Pacific stock markets and pre-market trading in US stocks on the rise. As of the time of publication, the Dow Jones futures rose by 0.37%, the s&p 500 index futures rose by 0.75%, and the Nasdaq futures rose by 1.41%. Chinese ETFs surged in pre-market trading, with 3 times leverage on the rise of the FTSE China ETF by over 25%.