David Tepper has the magic touch. The hedge fund billionaire has contributed to a dramatic change in market sentiment, becoming one of the first major proponents of the Federal Reserve tapering its asset purchase program, or QE, to spark a rally. Tuesday's Tepper rally is an act of rebelliousness to the sentiment that has prevailed over the past several months, when jittery markets sold off in the face of any indication the Bernanke Fed could be close to reducing its unprecedented monetary stimulus, marking an important paradigm shift.
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