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-- -- It's always fun to read that David tepper tea leaves he's a billionaire hedge fund investor who runs the gigantic apple -- -- management -- he says he was.
Bullish on financials that are recent mount and the market has some traders scratching their heads you should listen to this Charlie -- -- people on financials right.
Right and one trade may not mean anything right I mean you know we don't nobody was kind of -- -- -- the way he put out for bid.
400 million dollars in what's known as -- these -- securities that you know act like a bond and a stock at the same time depending on.
I hold them -- -- trade on the they -- known as hybrids.
Companies put -- time.
But what would what happened tempered this week from what we are we -- from sources.
Battery in the bond market that he went out and this is after he's been very public that he's bullish on financials -- like Citigroup.
He went out -- put out for bid.
400 million of hybrids -- 33 companies essentially -- financial companies.
HBOS -- -- must -- see that's the banking arm of Lloyds to Lloyd's of London insurance company to bank essentially.
Our Royal Bank of Scotland but we understand and Commerce -- pretty -- you when you put these out of -- not like he just.
You know sold a little -- so little there wasn't that's how -- lot of hedge fund managers.
Trade because they don't want -- want to cover their tracks all people know what that what they think.
He put out a bid to put it out for bid and various banks picked up their various players pick -- different pieces that this wouldn't put out of that everybody knows it was him.
And you know he's doing this just as he's talking about financials now.
Why are we telling you this what we're telling you this that may be.
-- just put it into your investment mindset.
You know a guy that like financials may be turning a little bearish why might he be turning a little bit right.
-- -- -- did something the other day about how big of a fourteen years exaggerate things never come out of value there.
Or that we're gonna have a better quarter of the -- fourteen years sequencing that but he he's very bullish.
This to the financials could have some headwinds here.
When you start talking about -- you know European problems start to creep back -- to I think Morgan Stanley put out -- note today that should be wary of the European.
And the ability of certain he's -- certain countries to pay back their debt Spain obviously been a big a big one of the worrisome parties and by the way if you worried about the countries.
You gotta worry about the banks -- because the banks even here hold some of that that toxic stuff will could be toxic stuff.
At -- that's what we know we tell you.
We report you decide but when apple -- which is this big hedge fund I mean people don't realize into these recent so sit around talking about Steve Cohen all the time.
Big investor fourteen billion of -- -- is right up there he's one of the best -- to that if he usually cover his tracks and now he's making an outright bid maybe he's just.
Black helicopter en -- baby he's trying to.
Create a diversion yeah or maybe he's just want to see he wants people to kiss his ring that's what they call -- in the market.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- He got to do a lot of trading activities it will the -- trait to -- if you want to.
If you wanna be our friend that you -- do business with you.
You gotta put upside here credit has actually improved a lot so I don't well -- -- some of these from what I understand some of these bonds were in sovereigns.
-- they have -- that we we're in -- having HBOS is a is a is a sovereign credits is is it is a European Bank obviously very -- -- -- Scotland.
Commerzbank believes it is -- is a is a -- German.
Commerce compact car spraying costs comedy -- Palmer.
And hello go yeah let's head off its.
Spring time bomb got -- It live on -- Gaza and journal and you know that was the -- that we Jimmy added Davos dishonest Gaza Egypt shouldn't that Mel Brooks now that.
It and I'm it was a free -- -- engineering and missed it thank you Charlie Gasparino closing bell.