Tom Lee, chairman of Bitmine, said on July 31 that South Korea’s stock market may be in the final stage of forming a bottom. In his post, Lee said Korean policymakers had begun to show signs of “panic,” which he framed as a possible signal that the market’s decline could be nearing its end. He tied that view to a well-known line from David Tepper, the founder of Appaloosa and a prominent fund manager. Lee quoted Tepper as saying, “When policymakers start panicking, the market stops panicking.” The remark presents Lee’s market view through the lens of policy behavior rather than a fresh set of market data, and the post did not include additional figures or a more detailed timeline beyond the July 31 statement.
Tom Lee, chairman of Bitmine, said on July 31 that South Korea’s stock market may be in the final stage of bottoming.
In his post, Lee said Korean policymakers had begun to show signs of “panic.” He also cited Appaloosa founder and veteran fund manager David Tepper, quoting him as saying, “When policymakers start panicking, the market stops panicking.”
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