David Tepper isn’t exactly a household name, but he will be when 2009 is said and done. Tepper, who runs hedge fund Appaloosa Management, is estimated to return over 120% after fees in 2009 and Tepper will personally make over $2B. The manager of the $12B fund made a series of very bold bets that the U.S. economy would thwart depression and rebound sharply in 2009. He was right.

The fund specializes in distressed debt and as we mentioned earlier this year, 2009 was a once in a generation opportunity. Tepper capitalized on it in a big way. He has been reported to keep a pair of brass testicles on his desk, but the real thing was on full display in late 2008 and early 2009 as Tepper moved his fund into the most dangerous of dangerous sectors – the banks. He reportedly purchased Bank of America (BAC) near $3.72 and Citi (C) near $0.79. With Bank of America trading at $15.33 and Citi at $3.34, Tepper’s fabulous year is perfectly summed up.