Some manager news today

·         David Tepper’s Appaloosa Said to Fuel Trading in CMBS by offering to buy and sell bonds with a face value of at least $8 billion after Wall Street firms pulled back from making markets in the debt. The $15 billion investment firm is providing bids and offers on at least 49 bonds issued in 2006 and 2007 with prices from 22 cents to 61 cents on the dollar

·         Bill Gross tweet on the EU summit today: “This is no summit. It’s a coffee klatch filled with petit fours and empty promises.”

·         Marc Faber told CNBC that stocks will be a better investment than bonds for the next 10 years. "When you print money everything goes up at different times, different asset classes … I think that stocks may still continue to go up, and I would rather own equities than government bonds for the next 10 years."

·         Whitney Tilson: 5 money moves one Buffett disciple is making now. 1. Buy US Banks (GS, JPM, C) 2. Buy Tech (Dell, Apple, Microsoft) 3. Own Berkshire Hathaway 4. Look at management’s track record (Howard Hughes Corp and Anheuser Busch) 5. Piggyback on activist shareholders (Bill Ackman and JC Penney)