David Tepper Is Short The Euro

David Tepper, the founder of hedge fund Appaloosa Management, said that he's short the euro during a talk at the Robin Hood Investors Conference in New York City. Tepper, whose fund specializes in distressed debt, said he expects that the European Central Bank will need to expand its balance sheet by instituting more quantitative easing and further *loosening* monetary policy to stimulate the eurozone's flagging economy. Earlier Tuesday, news reports surfaced that the ECB is weighing whether it should start buying corporate bonds, sending the euro tumbling. It last traded at $1.2720, compared to $1.2795 late Monday.