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Billionaire investor Leon Cooperman said he's still holding a cautious view on stocks and the economy, but he's finding cheap stocks to buy after the recent correction. "I would basically take the position that we're in a market of stocks rather than a stock market," Cooperman said on CNBC's " Closing Bell Overtime " Thursday. "I think anybody looking for a new bull market anytime soon is looking the wrong way." I just have low expectations for the market," Cooperman said. "The inflation rate has come down quite dramatically.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBillionaire investor Leon Cooperman: I believe the action will be in individual stocks, not the averagesLeon Cooperman, CEO and chairman of Omega Family Office, joins CNBC's 'Squawk Box' to break down why he prefers individual stocks over averages like the S&P 500. "I really don't like the S&P that much," Cooperman tells CNBC.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with billionaire investor Leon CoopermanLeon Cooperman, CEO and chairman of Omega Family Office, joins CNBC's 'Squawk Box' to break down why he prefers individual stocks over averages like the S&P 500. Cooperman also weighs in on the recent moves in energy stocks and breaks down his prediction for a potential recession in 2023. "The combination of Fed tightening, QT, strong dollar, and the price of oil will create a recession in the second half of 2023," Cooperman tells CNBC.
I find many things to do but I really don't like the S & P that much," Cooperman said. The S & P 500 rallied 8% in October. The widely followed investor said the S & P 500 could tumble to the low 3000s some time next year. The S & P 500 energy sector is the only grouping in the green this year, rallying more than 60%. Cooperman revealed that he owns Canadian oil and gas producer Paramount Resources, and he is not selling energy stocks despite the big runup.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are individual stocks that are attractively priced, says legendary investor Leon CoopermanLeon Cooperman, CEO and chairman of Omega Family Office, joins CNBC's 'Squawk Box' to break down his market outlook and the criteria he looks for in companies before investing.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with legendary investor Leon CoopermanLeon Cooperman, CEO and chairman of Omega Family Office, joins CNBC's 'Squawk Box' to break down his market outlook and the criteria he looks for in companies before investing. Cooperman also weighs in on the Federal Reserve's upcoming September meeting and why he would give Fed Chair Jerome Powell a "failing grade." "I think rates are going to go up," Cooperman tells CNBC. "I'm not a big bull on inflation."
Billionaire investor Leon Cooperman said Tuesday that he's having a "decent" year relative to the major stock indexes, despite the latest market turmoil. "The market really isn't cheap," he told CNBC's " Squawk Box ." "It's a very strange market, the indices themselves have no destination for me but I find a lot of individual stocks that are attractively priced…but I'm not expecting much in the market." About 22% of his portfolio is in energy stocks, he said. Shortly after stocks began selling off at the start of the year, Cooperman told CNBC they still represent "the best game in town" and are "the best asset in a bad neighborhood."
The appeal for high-dividend stocks is growing fast as the market's turmoil and surging inflation shows no signs of easing. Stocks with high dividend payouts had been ignored for years as growth stocks with dramatic price appreciation took center stage. The company pays a 4.7% dividend, more than doubling that of the S & P 500. Billionaire investor Leon Cooperman previously told CNBC that energy stocks were cheap relative to commodity prices. The chairman and CEO of the Omega Family Office held a number of high-dividend stocks, including Devon Energy , Coterra Energy , Energy Transfer and Pioneer Natural Resources , some of which pay as much as 8% in dividends.
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