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After Stumbling in 2014, Palomino Breaks Into a Gallop

The flagship fund of David Tepper’s Appaloosa is up 14 percent for the year, as currency bets and stakes in General Motors, JetBlue and HCA generate healthy returns.

David Tepper’s Appaloosa Management extended its strong rebound this year, posting a 2.6 percent gain in its Palomino fund in May. As a result, the hedge fund is up 14 percent for the first five months of 2014. Since November, when Tepper started his current rally, Palomino is up nearly 19

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