As the stock market continues to hover near all-time highs, billionaire hedge fund investor David Tepper sees a bit more room for growth.

“I’m not saying stocks are screaming cheap, but you’re nowhere near an overheated market,” Tepper said in an interview on Tuesday, noting that comparisons to the 1999 rally were “ridiculous.”

“Because world growth will continue to be good, earnings will be better and stocks are relatively cheap to interest rates,” Tepper told CNBC.

Tepper’s remarks came one day after regulatory filings revealed that his $17 billion hedge fund, Appaloosa Management, initiated a stake in the beleaguered Wells Fargo, as well as Antero Resources, Southwestern Energy and Chesapeake Energy.

At the same time, Tepper exited his position in Snapchat-parent company, Snap.