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With an annual salary of four billion US dollars, David Tepper is one of the highest-paid hedge fund managers ever. He is particularly known for dealing with companies that have gotten into trouble, and in this video we'll look at one of his portfolios, his stocks, and his approach. So, if you're interested, then Manrico Bahn investments?
using the triangle below. If the will to lead is there, then I don't see a problem. And with that, welcome! My name is Philipp Walter Lindner, and I hope that you've had a successful day so far. Yes, and I'm really enjoying this series now because I'm learning a lot about the individual investors, their strategies, their approaches, and noticing the little details, and above all, seeing a pattern emerge.
That means if you've seen the other videos, let me know in the comments if you feel the same way, or especially what you take away from these individual personalities. And today, how... I'm talking about David Tepper, who was one of the highest-paid hedge fund managers. He even knocked George Soros, who had the highest salary, off the top spot.
He and his hedge fund primarily make money from so-called distressed debt—I hope that's pronounced correctly. These are companies that have gotten into trouble, and the speculation is that a cash injection or investment can save them. He specifically made a name for himself by going to companies where bank stocks were at rock bottom right after the 2007/2008 banking crisis.
He said, "Okay, I assume the banks won't go bankrupt and will be rescued." This meant massively buying shares of Citibank or Citigroup, for example, and that's how the profits were made. When the rescue came, the uncertainty was naturally gone from the market, and stock prices rose again. These are, of course, moments when you can make an enormous amount of money in an extremely short time.
And this business model itself, focusing on these debts, on these companies that are perhaps over-indebted or have gotten into such a precarious situation, naturally requires extremely good expertise. And I mean that we then bundle this expertise in such hedge funds, and therefore, in my opinion, a very interesting approach.
Now let's look at his portfolio. We currently see approximately 6.7 billion under management, and the peak is around that amount. We also see, for example, in last week's video, 52 stocks, very close to that. And now let's look at the portfolio, and we see here that the approach I just described is, of course, one factor, but it doesn't always have to be the main strategy.
We can see in the portfolio structure, if we look again at the weighting in the portfolio, that in principle, in my opinion, the most important thing is always... Then we see here, and we've already seen this, that I have a very high weighting in the technology sector. That means... For example, Micron Technologies, Facebook, Alibaba – what else do you know here?
Alphabet, and that's about it for the table, which has an extremely high weighting of individual positions. And if we look here, there are also companies with just under two and a half percent, which are now being further acquired as new additions. And what else do we have besides Wells Fargo, so also bank stocks in this environment?
Let's look again at the stock picks, so what has happened recently? There were 14 stock transactions in this area in the first quarter of 2018. And yes, for example, contrary to Warren Buffett's opinion, Apple is being sold, Micron is being bought again. And here too, what we are sowing, as we have already seen with some, is that we are also in the index funds, here also sold out in Mergers and Markets, we have just already in Juba, and it is already running through the portfolio.
And the approach that one takes as an investor is of course always dependent on the market situation. If we now say I For example, I've made a lot of money with companies that have gotten into trouble, but that doesn't mean I can do it over and over again. The situation and the opportunities have to arise first to actually carry it out.
So here's a different approach for me, but a very interesting one back then. It's about your own thoughts on the matter. And with that, we'll close this chapter. David Tepper, if you liked it, don't forget to like and subscribe. You can find more videos here, and you'll also find the channel there, including the complete series on all the investors—yes, legends.
So if you're interested, feel free to watch it; a lot of knowledge has been shared there. And yes, otherwise, I look forward to seeing you again in the next video. Until then, I wish you all the best and take care.
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