Rick Wilking / Reuters
Billionaire investor Leon Cooperman warned in an interview with CNBC monday that returns from the inventory market would likely be “unsophisticated” for some time after this year’s immediate uptick.
The stock market recovered from its coronavirus pandemic in March in record time, returning to a bull market driven by the Fed’s commitment to keep interest rates low for a long time, according to Cooperman.
“In the market as a whole, we have a higher demand.I would expect long-term returns to not be a symmetrical impression for a long time,” Cooperman said.
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Cooperman’s conservative vision is based on the massive debts he sees accumulating in the United States.”We arrived in 2020 with a fully contracted economy, but we had a trillion-dollar deficit.And now we’re accumulating a lot of debt on most of that, ” said Cooperman.
He added that the Fed-driven stock market recovery will possibly lose momentum as the pandemic coronavirus recession continues, hurting the US economy and businesses.Hus He also noted that Japan and Europe have had interest rates 0 or negative for some time, but their price-earnings ratios are lower than in the US.But it’s not the first time
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