Billionaire investor Leon Cooperman advised CNBC on Friday that he was involved in regards to the long-term outlook for the inventory market as a r
Billionaire investor Leon Cooperman advised CNBC on Friday that he was involved in regards to the long-term outlook for the inventory market as a result of “an excessive amount of debt is being created.”
“I believe the overwhelming actuality is the Fed is simply creating this setting of free cash. It’s important to form of make a judgement whether or not that is justified, how lengthy it’ll final and what affect this has on the longer-term outlook,” Cooperman stated on “Squawk Field.”
“Long run, I in all probability have a dissenting view than Wall Avenue as a result of I am of the priority as to who pays for the celebration when the celebration is over?’ added Cooperman, chairman of the Omega Household Workplace.
In August, Cooperman additionally expressed worries in regards to the long-term market outlook, following Wall Avenue’s sturdy rally from pandemic-driven lows in late March. “We have been pulling numerous demand ahead. I’d count on that future returns shall be comparatively unimpressive for a very long time,” he advised CNBC then.
The outspoken Cooperman stated on CNBC on Election Day that he solid his poll for Democrat Joe Biden within the presidential race, saying he “voted my values and never my pocketbook.” Again in August, he stated he was undecided, citing uncertainty over Biden’s insurance policies and concern for President Donald Trump’s divisive demeanor.