David Tepper shows us what a real bubble looks like, holding up a chart of P/E multiples from 1995-2000 vs. 2008-today. The 95-00 line goes straight up, while the 08-13 line is flattish. The first period was a clear bubble, but today isn't, and in fact deserves a much higher multiple than existed in 2008.
Up about 40% this year, what's Appaloosa looking at for 2014? Tepper says he's recently put on a Treasury (TLT) short, but doesn't expect rates to go a whole lot higher.
Stock index ETFs: SPY, QQQ, SH, DIA, SSO, SDS, PSQ, IVV, SPXU, UPRO, VOO, QID, SPXS, SPXL, DOG, TQQQ, RSP, SQQQ, DXD, QLD, RWL, EPS, UDOW, SDOW, DDM, IWB, BXUB, QQEW, QQQE, VONE, TRND, SFLA, ROLA, BXUC, QQXT, ONEK, BXDB, EWRI, LGLV, TNDQ
Treasury ETFs: TBT, TLT, TMV, IEF, TBF, PST, EDV, TTT, TMF, TLH, ZROZ, SBND, IEI, DLBS, TYO, DTYS, VGLT, UST, UBT, TLO, TBX, VGIT, FSA, LBND, GSY, SCHR, DTYL, TYD, ITE, TENZ, TYBS, FIVZ, TBZ, DFVL, DLBL, DFVS, TYNS