David Tapper: The market is too big to be influenced by Bill Gross departure

David Tepper, co-founder of Appaloosa Management spoke with Bloomberg TV about various topics like Bill Gross' departure from PIMCO, the bond market and the US U.S. stock market.

Bill Gross shocked the financial world when he announced he would be quitting his job as CIO of PIMCO. Analysts believe this could cost the company from tens of billions to hundreds of billions of dollars of client assets. But of course this does not mean that investors will put aside the bond market. Gross is expected to have a much smaller influence in the markets as he is now taking over the much smaller Janus Unconstrained Bond Fund.

When asked how this will affect the merkets, Teppe replied: Nothing. Who cares? So you talk about a day, two days, three days. But long term, it doesn't mean anything. The market is the market. It's bigger than anybody.

The next topic of conversation was the "bonds bubble." In his last interview the legendary investor said that this will be the beginning of the end, if the ECB starts QE: "The Bank has not yet begun with quantitative easing and the beginning of the end will start when the ECB take action. With inflation in the euro zone, the result will be a drop in bond markets."

In the interview, he shared his views on the US economy saying that it performs quite well as US stocks have room for growth.