Billionaire investor Leon Cooperman remains a bear with little interest in the broader stock market, which he says underestimates the risk of a fiscal crisis.
Published 7 mins agosaid he remains a bear with little interest in the broader stock market, partly because it's underestimating the risk of a fiscal crisis.
"I'm of the view that we borrow from the future with very profligate fiscal policy," Cooperman said at CNBC's."Ultimately, we will have a crisis in public sector finance, and the market is not discounting a crisis. Overall, I expect very little from the market." The chair and CEO of the Omega Family Office said the unprecedented stimulus has pulled demand forward and created an artificial situation in the economy. The national debt of the U.S. recently reached a historic milestone byGiven his long-term pessimism, Cooperman isn't buying the stock market benchmarks. Instead, he's hunting for bargains in individual names.Sign up for NBC LA newsletters.
"The market has been, as you know, extraordinary bifurcated. If you take out the Magnificent 7, the overall market has done nothing and maybe it's down a little bit or flat," Cooperman said."I'm not interested in the S&P. I'm interested in individual stocks."climbs above 4,600 anytime this year. The large-cap benchmark is still up about 13% this year, trading around 4,344.
The veteran investor said his advice for what to buy right now would be, in order of preference, his favorite cheap stocks, then short dated Treasurys, and his least favorite would be long term bonds. Some of his favorite value names are Canadian energy producers
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Billionaire Paolo Rocca has a plan B if Alpha Lithium bid failsNo 1 source of global mining news and opinion
Lire la suite »
Australian billionaire Gina Rinehart accumulates 19.9% stake in Albemarle target LiontownAustralian billionaire Gina Rinehart accumulates 19.9% stake in Albemarle target Liontown
Lire la suite »
Billionaire Investor Paul Tudor Jones Backs Bitcoin Amid Geopolitical Tensions, Dire US EconomyCrypto Blog
Lire la suite »
U.S. Considers Dropping Sanctions Against Israeli Billionaire in Push for EV MetalsNickel is an essential component of electric-vehicle batteries and Indonesia is by far the world’s largest producer. A rare visit to one of its biggest nickel plants reveals the heavy environmental cost of mining and processing the metal. Photo: Ulet Ifansasti
Lire la suite »
Billionaire Paolo Rocca has a plan B for lithium if Alpha bid failsBillionaire Paolo Rocca’s oil drilling unit will enter the lithium business one way or another — saying it’s lining up other options in case it fails with a $1-billion plan to develop a project in Argentina. Tecpetrol SA is giving shareholders in Alpha Lithium Corp. until October 20 to accept a “best and final offer” that’s worth $210-million to $230-million, said Vice President of Energy Transition Jorge Dimopulos. If it manages to gain control of the Vancouver-based firm, Tecpetrol will plow a
Lire la suite »