Audrey Deschenes
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David Tepper says it’s time to take some money out of the stock market

If the stock market falls by 20%, hedge-fund Master-of-the-Universe David Tepper would be a buyer

Being flat stocks isn’t a bad place to be, says David Tepper.

David Tepper, one of the world’s most closely-tracked hedge-fund managers, made the case Thursday for taking some money off the table when it comes to the stock market.

In an interview with CNBC, the founder of Appaloosa Management suggested earnings expectations for 2016 are too lofty and that stocks might struggle as corporate margins face a squeeze and China and emerging markets continue to shed foreign-exchange reserves.

“I’m not probably as bullish as I could be because I have problems with earnings growth, I have problems with multiples, I have…all kinds of problems, so I can’t really call myself a bull,” Tepper said.

Taking some money off the table if fully invested is “probably not a bad idea,” Tepper said.