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    MARKET EDGES

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We are big believers in accountability and transparency here at Hedgeye. And, like any truly successful athlete, team, company or organization, we have our fair share of loathers out there. But one thing is for certain ... no one can accuse us of not being transparent or accountable.

In that vein, we'd like to take a minute to highlight two big market calls recently made by Appaloosa hedge fund manager David Tepper.

As the first graphic below shows, exactly one month ago today Tepper was bulled up on stocks calling for 8-10% upside in 2015. He told CNBC's Melissa Lee the following:

"It's not the time to be careful now. Enjoy the ride."

The S&P 500 is down approximately -4% since. 

Timestamping David Tepper - appa3

As the second graphic below shows, Tepper's call on bonds back in September to Bloomberg's Stephanie Ruhle, well, it was  #epically wrong.  

“It’s the beginning of the end of the bond market rally,” Tepper said in a telephone interview. “We are done.”

Hedgeye CEO Keith McCullough and his macro team took a lot of heat during that time (we were non-consensus and long the long bond via TLT in 2014).

For the record, TLT is up over +17% since Tepper declared the end of the bond rally as 10-year Treasury yields flirt with record lows at 1.77%

Yes, we remain long the long bond.

Timestamping David Tepper - boom1