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Tepper’s Appaloosa Turns 20, Posts Strong Gains

Appaloosa Management is celebrating its 20th anniversary by putting in another strong year, surpasing the S&P 500 by several percentage points.

David Tepper’s Appaloosa Investment L.P. I hedge fund posted a 7.6 percent gain in the second quarter and a 16.8 percent gain for the first half of the year, compared with a 13 percent gain for the S&P 500, according to his investor letter dated July 30.But the letter is

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