BOSTON ( TheStreet) -- Billionaire hedge fund manager David Tepper of Appaloosa Management is again dumping the same bank stocks that made him a fortune in 2009 and moving into beaten-down companies Oracle ( ORCL) and Boston Scientific ( BSX).Thanks to prescient bets on Bank of America ( BAC) and Citigroup ( C), Tepper's flagship fund more than doubled in 2009 after the market meltdown that was spurred by the collapse in financial stocks.
|David Tepper (Appaloosa Management)|
General Motors ( GM) Company Profile: General Motors is the world's largest automaker by sales, having emerged from Chapter 11 bankruptcy protection in 2009. Tepper's Investment: While the fund cut its entire stake in Dana Holding ( DAN), Appaloosa picked up more GM warrants in the fourth quarter, a stake that represents less than 1% of Tepper's disclosed portfolio. Share Price Performance: Although Tepper's fund doesn't own the actual common shares, GM's stock has performed solidly this year, up 25% already.