David Tepper, Founder, Appaloosa Management

His outlook is long term. There are no great asset classes now, given inflation and interest rate concerns. Nothing looks great. He's been to conservative this year, though he's done okay with oil and other commodities. How will rates behave next year? It's impossible for anyone to know, including the Fed. If the US 10-year stays around 1.6%, stocks will probably go up by 5-10%, and he'll play the game by going in and getting out. But it's stupid to buy bonds at 1.6%. Will people keep buying bonds? And selling stocks means paying a large tax bill. Stay exposed to stocks for the long run. It's likely the Fed will taper next month, but he doesn't know what will happen. Overall, he doesn't like the market now. It's like Vegas now.

Cryptos Cryptos are a storer of value, but he doesn't own much of them. The question is, What should the price be?