DAVID TEPPER
Appaloosa Management

Organization

Inception

1993

Assets
      Current
      Peak

$1.2 billion
$1.6 billion

Edge

Experience, opportunistic

Office Location

Chatham, New Jersey

Number of People

25

Type of Organization

Trading

His Role

Actively involved in all areas

Investment Committee

Yes

Reward System

Performance of overall firm and specialty

Number of Investors

150

Type of Investor

Heavily U.S.; family offices, endowments; no fund of funds

GP/Principals'
Ownership of Assets

10 to 15 percent

Endowments
(Source: 1999 NACUBO)

Middlebury College, Davidson College

Methodology/
Portfolio Composition

Style

Opportunistic, event-driven

Number of Positions in Portfolio
      Average
      Current

50 to 70
30

Trades Taken

Opportunistically

Role of United States

Varies

Role of Technology

Varies

Role of Private Equity

Selectively, rare