The billionaire investor said he didn't expect the S&P 500 to hit a fresh high for a long time.
Cooperman said a "rolling correction" was underway and house prices were likely to drop.
AdvertisementAdvertisementLeon Cooperman said stocks were overpriced, and the S&P 500 wouldn't notch a fresh high for a very long time.
AdvertisementAdvertisementA handful of Big Tech names, including Tesla, Nvidia, and Microsoft, have pulled the major indexes higher this year, but excluding the so-called Magnificent Seven, stocks are virtually flat.
He said in February that the S&P 500 was likely to bottom around 3,100 points, or 35% below its January 2022 peak.
Persons:
Leon Cooperman, Cooperman, —, Jeremy Grantham, John Hussman, Goldman Sachs, Tesla
Organizations:
Service, Omega Advisors, Big Tech, Nvidia, Microsoft, Wall, Finance, Philanthropy
Locations:
Bronx