Omega Advisors founder Leon Cooperman said on Thursday that the indicators he looks at do not show him stocks are in a bear market.
He said he's finding "tremendous value" with many stocks today and suggest investors buy more of "their favorite stocks" here. Cooperman spoke with CNBC's Scott Wapner on the "Halftime Report."
"Don't favor the notion that we are headed into a bear market. Own your favorite stocks, hold cash, limit your holding of bonds and keep the maturity shorter than average. A bear market is not just a price decline in a short period of time...There's plenty to worry about, but I'm still finding a tremendous amount of value in the market," Cooperman said.
The billionaire earlier this month blamed the Securities and Exchange Commission for failing to address the impact computerized trading has had on the broader market and how it exacerbates volatility during market swings.
As algorithmic, trend-following investment models have gained popularity on Wall Street, passive vehicles such as index funds and exchange-traded funds keep reeling in assets from Main Street, raising fears too much of stock trading is in the hands of automated buyers and sellers. DoubleLine Capital CEO Jeffrey Gundlach on Monday took a shot at passive investment strategies, declaring the investing strategy a "mania" that is causing widespread problems in global stock markets.
from Top News & Analysis https://ift.tt/2ScM6dX
No comments:
Post a Comment