disruptpress efi
Investing

Leon Cooperman sees stock market lower a year from now due to tax, rate, inflation pressures

Leon Cooperman at the 2019 Delivering Alpa conference in New York on Sept. 19. 2019.
Adam Jeffery | CNBC

Billionaire investor Leon Cooperman told CNBC on Friday he expects the stock market will be lower than current levels one year from now.

Cooperman’s comments came one day after the S&P 500 notched yet another record close in 2021, finishing Thursday’s session at 4,211.47. The broad equity index has risen roughly 12% year to date and about 43% in the past 12 months.

“Let’s face it. The market is facing the fact that taxes are going up, interest rates are going up, and inflation is going up. And we have a reasonably richly appraised market. So cyclically I’m engaged. But I got an eye on the exit,” Cooperman said in an interview on “Squawk Box.”

“I suspect the market will be lower a year from today. But I don’t have to make that guess now. This is not going to end well,” the chairman of the Omega Family Office added. “But nobody, myself included knows when this is going to end. We just watch the things that would normally indicated an end.”

Cooperman said he considers himself to be “a fully invested bear,” while acknowledging the market has lately “done better than I would’ve thought.”

“I don’t see the conditions that would lead to a significant market decline present,” Cooperman said. “However, however — this is the big however — I think we should recognize we’re pulling demand forward and that the longer-term outlook is not particularly favorable, in my view.”

Products You May Like

Articles You May Like

Consumers will be spending more on mom this year, but celebrations are still homebound
Confidence in the safety of the J&J vaccine is low following U.S. pause, Kaiser survey shows
3 Best Ways To Remain Independent As You Age
What You Need To Know In 2021 About The Roth IRA
Miami 2.0 Goes Viral Again With This Cheeky New Manhattan Times Square Billboard

Leave a Reply

Your email address will not be published. Required fields are marked *