SPY limit expousure and react quickly #SALT #Tepper

From SALT Conference in Las Vegas on Wednesday evening.

Tepper has one of the best long-term performance track records in the hedge fund world.

"I think we're OK. But, listen, there's times to make money and there's times not to lose money. This is probably you're supposed to think about preserving some of your money...I think you can still be long, but I think you're supposed to have some cash now."

"It's funny people think we're always bullish."

"I am nervous. I think it's nervous time."

He said the market is probably OK. "But it's getting dangerous."
"I'm not saying go short. Just don't go too friggin long."

Read more: businessinsider.com/david-tepper-at-salt-conference-2014-5