“This might be one those [moments].”

CNBC’s excellent interview with David Tepper, one smart dude (OSD).  Tepper is a great hedge fund manager and made a bundle buying bank shares and preferreds when the you know what was hitting the fan.  He got his start in distressed debt.  Click link for the extended version of this must view interview.

“Either the economy is going to get better by itself in the next three months…What assets are going to do well? Stocks are going to do well, bonds won’t do so well, gold won’t do as well,” he said. “Or the economy is not going to pick up in the next three months and the Fed is going to come in with QE.

“Then what’s going to do well? Everything, in the near term (though) not bonds…So let’s see what I got—I got two different situations: One, the economy gets better by itself, stocks are better, bonds are worse, gold is probably worse. The other situation is the fed comes in with money.”

Check it out.