David Tepper's hedge fund firm Appaloosa Management has reportedly managed to bag earnings worth a whopping $7 Billion so far for the current year, as has been confirmed by some people who are familiar with the matter.

It is no secret that 2009 has been a comeback year for investors, and the latest report has managed to back the speculation even more.

From February to March for the ongoing year, Mr. Tepper managed to gather bank shares that had been beaten down on the back of the financial crisis, and many investors were looking to wash their hands off them. He purchased shares of the struggling Bank of America, which were then trading at a price of below $3, in addition to Citigroup shares when the price of the stock of under $1.

Appaloosa, which is currently managing about $12 Billion worth of funds reportedly, specializes in stocks and bonds of struggling and troubled firms.

No comments on the report have been shared by the hedge fund yet.