저자: DavidTepper · 외국인
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영상은 데이비드 테퍼의 경력과 자산(헤지펀드 Appaloosa, 캐롤라이나 팬서스 구단주, 자선활동)을 소개하는 전기 성격의 내용이다. 2010년 연설에서 AIG 채권, 뱅크오브아메리카 주식, 유럽 은행 등 위험자산 투자를 권유했고, 2018년 1월 트럼프 법인세 인하를 옹호하며 시장이 과대평가되지 않았고 추가 상승 여지가 있다고 밝혔다. 2009년 뱅크오브아메리카 저점 매수로 큰 수익을 낸 사례도 언급된다. 다만 발언은 모두 과거 또는 장기 관점이며 1~3개월 가격 예측은 없다. 자막이 자동생성본이라 수치와 고유명사에 오류가 많다.
다듬은 글
David Allan Ter, born on September 11, 1957, is an American billionaire hedge fund manager known for his significant business ventures and philanthropic contributions. Ter is the owner of the Carolina Panthers in the National Football League, NFL, and Charlotte FC in Major League Soccer, MLS. Additionally, he serves as the founder and president of Appaloosa Management, a prominent global hedge fund headquartered in Miami Beach, Florida.
Institutional Investors Alpha ranked David Allen Ter's $2.2 billion paycheck for the 2012 tax year as the world's highest for a hedge fund manager, showcasing his exceptional financial success in the industry. Furthermore, Ter earned the third position on Forbes's the highest earning hedge fund managers 2018 on list, boasting annual earnings of $ 1.5 billion.
His remarkable achievements have not gone unnoticed, as evidenced by a 2010 profile in New York that described him as the object of a certain amount of hero worship inside the industry. One investor even went as far as to label him a golden god. Looking ahead, Ter has expressed intentions to eventually convert his hedge fund into a family office, signaling a shift in his long-term financial strategies.
In 2013, he made his largest donation of $67 million to Carnegie Melon, leading to the naming of the Ter School of Business in his honor. As of 2022, Forbes estimates David Allen Ter's net worth to be a staggering $16.7 billion, solidifying his status as one of the wealthiest individuals globally. Furthermore, the Bloomberg Billionaires Index has recognized ter as the wealthiest person in New Jersey, underscoring his significant financial standing and influence in the region.
David Allan Ter, born on September 11th, 1957, grew up in the Stanton Heights neighborhood of the East End of Pittsburgh, Pennsylvania, as the second of three children to Harry, an accountant, and Roberta, an elementary school teacher. Raised in a Jewish family, Ter enjoyed sports as a boy, particularly football, and developed a keen interest in baseball statistics, demonstrating early signs of his remarkable memory.
Despite facing challenges, including alleged physical abuse, from his father, Ter excelled academically. He attended Peabody High School in Pittsburgh's East Liberty neighborhood before pursuing higher education at the University of Pittsburgh. To support his education, he worked at the Frick Fine Arts Library while earning a bachelor of arts degree in economics with honors.
During his college years, he also initiated small-cale investments, albeit facing setbacks with his initial ventures, both of which ended in bankruptcy. After completing his undergraduate studies, Ter entered the finance industry, initially working as a credit analyst in the treasury department of Equank.
However, he found this position unsatisfying and decided to further his education. In 1980, he enrolled in Carnegie Melon University's business school to pursue a master of science in industrial administration, which was the equivalent of an MBA at the time. Following the completion of his MBA in 1982, David Ter embarked on his professional journey starting with a position in the Treasury Department of Republic Steel in Ohio.
However, his career trajectory soon led him to Keystone Mutual Funds, now part of Evergreen Funds, in Boston in 1984. In 1985, Ter transitioned to Goldman Sachs, joining the firm as a credit analyst during the formation of its high yield group in New York City. Remarkably, within 6 months, he ascended to the role of head trader.
Over the course of eight years at Goldman, Ter specialized in navigating bankruptcies and special situations, contributing significantly to the firm's resilience following the 1987 stock market crash. Despite his instrumental role, Ter was overlooked for partnership, partly due to his outspoken and assertive demeanor.
Disillusioned by being passed over for partnership at Goldman Sachs twice in two years, Ter departed in December 1992. Operating from a desk in the offices of mutual fund manager Michael Price, a Goldman client, Ter began trading aggressively in his personal account, aiming to accumulate sufficient capital to launch his own fund.
In early 1993, he established Appaloosa Management. Ter's investment strategies at Appaloosa Management garnered significant attention and success. In 2001, he achieved a remarkable 61% return by focusing on distress bonds. Additionally, in the fourth quarter of 2005, he shifted his focus to standard pores 500 stocks, capitalizing on what he perceived as better opportunities.
Ter's pension for investing in challenging companies such as MCI and Morant consistently yielded substantial gains for his hedge fund. In 2009, Ter's astute investment decisions during a tumultuous financial period led to immense profits for his hedge fund. by strategically buying distressed financial stocks in February and March, including Bank of America common stock at a low of $3 per share and capitalizing on their subsequent recovery.
Ter's fund earned approximately 7 billion. A significant portion of these profits contributed to Ter's personal wealth, solidifying his position as a top earning hedge fund manager of 2009. In a 2010 speech, David Ter offered unconventional investment recommendations advocating supposedly risky ventures such as AIG debt, Bank of America equity, and European banks.
Despite prevailing pessimistic forecasts of hyperinflation, or depression, Ter expressed confidence in market adaptability, dismissing the prevailing skepticism with a blunt, "Don't listen to all the crap out there." His contrarian approach earned him recognition, including being awarded the institutional hedge fund firm of the year in June 2011 and being ranked as the top hedge fund earnner of 2012 by Forbes.
Forbes consistently acknowledges David Ter's financial prowess, listing him among the 25 highest earning hedge fund managers in both 2013 and 2016. As of 2022, Forbes estimates Ter's net worth at $16.7 billion. positioning him as one of the wealthiest individuals globally. Moreover, the Bloomberg Billionaires Index identifies him as the wealthiest person in New Jersey, reflecting his significant financial achievements.
In January 2018, Ter publicly praised President Trump's corporate tax cuts, expressing optimism about the market's trajectory and refuting concerns of overvaluation, emphasizing global economic growth and minimal inflation. Ter asserted that the market remained attractively priced with ample room for further expansion.
Despite his formidable reputation in the financial world, Ter maintains a light-hearted and unconventional approach. Notably, he keeps a pair of brass testicles on his desk, a gift from former employees, which he humorously rubs for luck during a trading day. This quirky tradition serves as a source of amusement among his colleagues, adding a unique personal touch to his professional demeanor.
As of 2020, Ter's investment portfolio prominently features Alibaba, comprising 13% of his holdings, and Amazon, which constitutes 11%. These investments reflect his strategic approach to diversification and capital allocation within his fund, demonstrating his ongoing pursuit of profitable opportunities in dynamic global markets.
In September 2009, David Ter acquired a 5% stake in Pittsburgh Steelers, a renowned franchise in the National Football League, NFL, demonstrating his interest in sports ownership and investment. In May 2018, Ter made headlines by purchasing the NFL's Carolina Panthers from the team's original owner, Jerry Richardson.
Ter's acquisition marked a significant transition in ownership, requiring him to divest his stake in the Pittsburgh Steelers. Despite facing competition from other biders, Ter's successful bid of $2.2 billion, the highest in NFL history at the time, secured him ownership of the Panthers. His swift approval process, facilitated by his prior ownership experience with the Steelers, played a crucial role in clenching the deal.
a deal. Since assuming ownership of the Panthers in 2018, Ter's tenure has been marked by mixed results on the field. The team's performance, characterized by a 3168 record in turnover in coaching staff with six head coaches during his ownership, has drawn scrutiny and criticism. Some observers have labeled Ter's least effective owners, citing the Panthers struggles and downturn in performance under his leadership.
In 2022, Ter faced challenges related to the construction of a practice facility for the Panthers in Rock Hill, South Carolina. Following disputes with the city over contractual obligations, Ter canceled the project, leading to legal complications. His real estate arm subsequently declared bankruptcy over the failed venture, highlighting the complexities and risks involved in sports team ownership and infrastructure development.
David Ter has experienced significant changes in his personal life, including marriages and divorces. He married Marlene Restnik Ter in 1986, with whom he has three children. However, they divorced in 2016. Subsequently, Ter entered a long-term relationship with Nicole Bronnish, whom he married in 2019.
Ter presents himself as a downto-earth individual despite his immense wealth. He describes himself as a regular upper middle class guy who happens to be a billionaire. Known for his candid and sometimes controversial demeanor, Ter's unpolished and straightforward nature has earned him both admirers and critics.
His lifestyle reflects a mix of simplicity and extravagance. With residences ranging from a modest stone house in Livingston, New Jersey, to a lavish beachfront mansion in Miami Beach, Florida, Ter's confidence and resilience are evident in his life philosophy and career trajectory. He attributes his strong confidence to his willingness to work hard and take risks, exemplified by his statement, I was never afraid to go back to Pittsburgh and work in the steel mills.
This mindset underscores his fearlessness in facing challenges and setbacks both personally and professionally. Ter's decision to relocate his company to Miami Beach, Florida in 2016 had significant financial implications as he was New Jersey's richest taxpayer at the time. The move prompted concerns from state officials about potential budgetary impacts due to the loss of income tax revenue.
In October 2020, Ter announced his return to New Jersey for family reasons, a decision that may result in substantial state income tax expenses, potentially costing him up to $120 million. This move highlights the complex interplay between personal priorities and financial considerations in Ter's life.
David Ter has demonstrated a strong commitment to education through significant donations to various institutions. Notably, he made a single donation of $55 million to Carnegie Melon University, prompting the school's renaming to the David A. Ter School of Business. In addition, Ter contributed $67 million towards a development of the TER quadrangle, further enhancing the university's facilities.
His total gifts to Carnegie Melon amount to $125 million. Moreover, Ter has supported the University of Pittsburgh with substantial contributions, including scholarships and academic centers. as well as Ruckers University's Mason Gross School of the Arts, alma mater of his wife Marlene. Ter's philanthropy extends beyond education to include community outreach and disaster relief efforts.
Following Hurricane Sandy, he donated $200,000 in gift cards to families in Jersey City and Hoboken affected by the storm. In response to the COVID 19 pandemic, ter foundation contributed $2.65 $65 million to assist Chicago in addressing pandemic related challenges. His cumulative donations towards CO 19 relief efforts exceeded $22 million in April 2020.
Moreover, in September 2021, Ter's foundations pledged $1 million towards Hurricane Ida relief efforts, demonstrating ongoing support for disasteraffected communities. Ter actively serves on the business board of adviserss for the Ter School of Business at Carnegie Melon University, reflecting his continued engagement with educational initiatives.
Additionally, he participates in various boards and committees for charitable and community organizations in New York and New Jersey, further underscoring his commitment to philanthropy and community development. Ter's philanthropic endeavors have garnered recognition and accolades. He was the keynote speaker at Carnegie Melon University's 121st commencement in 2018, where he received an honorary doctorate degree in recognition of his contributions to education and society.
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