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David Tepper cautious on Pittsburgh Steelers—and the markets

February 01, 2011   Lawrence Delevingne

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"I would be remiss in saying I'm not a little more nervous than I was a week ago."

 David Tepper

Appaloosa Management founder David Tepper is hoping the Pittsburgh Steelers win the Super Bowl, but says it will be close.

"I think it’s a pick-em game," said Tepper in an interview this week with AR about philanthropy. "I can’t see it not being a great game."

"If the center wasn’t hurt it would be a one point game with Green Bay still being favored," said the Pittsburgh native and minority owner of the football team (Las Vegas bookmakers have the Packers winning by three).

Prodded slightly, Tepper turned cautiously optimistic. "We’ve got great defense. We’ve got a little problem with the center having a broken bone in his leg, but [Doug] Legursky, his backup, is pretty good. So I’m hopeful," Tepper said. "The Steelers find a way to win. This big quarterback back there, Ben Roethlisberger? He’s a real tough guy."

When not thinking about the big game, Tepper is also cautiously optimistic on the markets.

"I would be remiss in saying I’m not a little more nervous than I was a week ago. I’ve got to be careful that this stuff doesn’t spread and that Egypt does settle down," said Tepper.

"I’m surprised how fast the market bounced [Monday]--shows you there’s a lot of money looking for any dip on the sidelines. Which is good, but I have to be a little more cautious than last week because I didn’t know how much this stuff could flair up," he said. "I’m still generally constructive but just a tiny bit more cautious than I was before because of this stuff."

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