Research Watch

Tepper’s prediction on stocks, PIMCO on bonds, the dollar bull run, and more.

When David Tepper first expressed his extreme bullishness on stocks in September, 2010, he sparked what was dubbed “The Tepper Rally”: the Dow and S&P 500 have since risen 45% and Australian markets are up some 15%. In this week’s video, the hedge fund legend is back to argue reduced market intervention by the Federal Reserve could offer a new, more sustainable leg up. His comments come as the equity premium over bonds reaches historic new highs, and as Bill Gross suggests we may never see another bear market in fixed interest assets. John Hussman has also joined a chorus of support for bond investing, adding weight to Mark Faber’s warning about the growing disconnect between stocks and the economy. Meanwhile, UBS quantifies the effects of a 5 cent drop in the exchange rate — backing Tim Treadgold’s argument that the miners have the most to gain — while others are pairing Aussie dollar shorts with an accumulation of Mexican pesos. Elsewhere, Hugh Hendry is making new bets on the US and Japan, the BRICs are being overtaken by the so-called MIPS, and followers of Jim Cramer should be billionaires by now.

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