David Tepper, manager of Appaloosa Management, made $3.5 billion for himself in 2013 -- partly to due the strong performance of shares of Citigroup (NYSE:C) over that time. Tepper and Appaloosa starting making their investment in 2012 and rode the shares higher at the market gained confidence in CEO Michael Corbat's renewed vision for the bank.
In the following video, Motley Fool banking analysts David Hanson and Matt Koppenheffer look at Tepper's big year, Citigroup's progress, and the rest of the Appaloosa Management portfolio.
Follow the big money
Imagine a company that rents a very specific and valuable piece of machinery for $41,000... per hour (that's almost as much as the average American makes in a year!). And Warren Buffett is so confident in this company's can't-live-without-it business model, he just loaded up on 8.8 million shares. An exclusive, brand-new Motley Fool report details this company that already has over 50% market share. Just click HERE to discover more about this industry-leading stock... and join Buffett in his quest for a veritable landslide of profits!
David Hanson owns shares of American International Group. Matt Koppenheffer owns shares of American International Group and Citigroup. The Motley Fool recommends American International Group. The Motley Fool owns shares of American International Group and Citigroup and has the following options: long January 2016 $30 calls on American International Group. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.