David Tepper, founder of Appaloosa Management, and benefactor of Carnegie Mellon University's business school has made headlines once again with his generosity. Mr. Tepper has made major contributions to Food Banks in New Jersey and Pennsylvania.

From WSJ.com:"Appaloosa has been involved with the recapitalization of the country's banks. Well, is there a more important bank to be involved in than these food banks?" says Mr. Tepper, whose hedge fund made billions during the financial crisis by betting that big banks would rebound from their lows after government intervention.

1. Tepper's results as of October 2010 - up 26% for the year.
2. Tepper's portfolio as of September 2010 - tech heavy
3. A video interview below, as of late September 2010 - he call's Octobers rally

The Hedge Fund titan and Carnegie Mellon University benefactor has had a flurry of press due to a couple rare interviews lately. This story has links to his CNBC interview, New York Magazine article, and Bloomberg BusinessWeek article.

Thank you Neil C. for sending this along.

Many have identified David Teppers Palomino fund as 2009's best performer, raking in 130%. Now a new working paper by the non-profit National Bureau of Economic Research identifies a fund in 2009 that may have topped Tepper, bringing in 132%

One such fund is Barnegat, founded by Robert Treue III and based in Hoboken New Jersey. With assets under management of $450 million, the firm reported a return of 132 percent last year, according to a profile in January by The New York Post.

A paper from the National Bureau of Economic Research, as noted by the Financial Times, details how prices for TIPS and conventional Treasury bonds were "thrown out of sync" by as much as 23 cents on the dollar following the collapse of Lehman.

The NBER said the discrepancy narrowed during 2009, but it still provided hedge funds a massive arbitrage opportunity and led directly to "one of the most successful hedge fund trades in recent memory," reports the FT.
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