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A Cagey Tepper Played the Rope-a-Dope to 2015 Gains

The Appaloosa chief rode the market early last year to big gains, then went on defense, concerned about China and the Fed.

       David Tepper, Appaloosa Management (Bloomberg) David Tepper’s rope-a-dope strategy paid off. After racing to a 14 percent gain in the first five months of 2015, the co-founder of Short Hills, New Jersey, Appaloosa Management turned to play defense. Tepper was worried about China, whose economy and markets were starting to crack, and

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