David Tepper Says 8 to 10% upside in the Market: Time to Buy

We do have a US economy that is growing at 5% and stimulus happening in Japan. Hopefully, we can get some wage growth and he will look like a prophet.

"I think we'll have a good year," he said in a phone conversation on Monday, referring to 2015. Fair value, he said is a range, not a specific number and with the S&P having a price-earnings ratio of 16, stocks could rise to the upper band of the range, about 18. Also, central bank easing plays a key role in fueling stocks' rise. 

"You have people responding to deflation all over the place. First thing that goes up when people try to fight deflation is asset prices," Tepper said.

I guess only the FED could screw things up by raising rates too soon.