Skip to comments.
Once Bullish, Leon Cooperman Grows Wary of Stock Valuations
| October 28, 2012
| Larry Kudlow
Posted on 10/28/2012 5:56:41 AM PDT by Kaslin
For years famed investor Leon Cooperman has talked up stocks. But on last nights show, he sounded the alarm.
Cooperman, who is a widely followed investor and chairman of the hedge fund Omega, has made headlines for quite some time calling stocks 'the best house in the financial asset neighborhood.'
Back in 2011, Cooperman outlined his pro-stock market thesis at length on CNBC.
But on The Kudlow Report
, Cooperman made a surprising statement that presumably reflected a shift in his outlook. He told Larry, I think the stock market presently is fairly valued
. I believe the profit cycle is peaking.
Cooperman went on to say that the market multiple may be too high.
Historically the market multiple is around 15, said Cooperman, but over the past 50 years or so the growth rate has been much more robust. If were moving into a period of slower growth than the premium investors are willing to pay for stocks will probably decline.
Thats not to say Cooperman is a seller hes not. Im not aggressively bullish or bearish, he explained, Im simply saying I think the market is now fairly valued.
(Excerpt) Read more at finance.townhall.com ...
TOPICS: Business/Economy; Editorial
posted on 10/28/2012 5:56:48 AM PDT
Not a very enlightening article. The billionaire thinks stocks are fairly valued - or might not be. WTF?
I know Cooperman has attacked obama, but I wonder where he stands on the election results?
Here’s my test for wall sheep analysts: If they believe Obama is going to win, then I view them as wrong on stocks, bonds, gold and commodities.
And right now, wall sheep is still predicting an obama victory.
Come to me, my muppets.
posted on 10/28/2012 6:07:51 AM PDT
(He's a mack-daddy http://www.youtube.com/watch?v=AV415yit7Zg)
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson