Legendary Investor Leon Cooperman Predicts S&P 500 Won't Hit A New High For Years: 'I Find Myself Somewhat Pessimistic At The Present Time'
Portfolio Pulse from Benzinga Neuro
Billionaire investor Leon Cooperman predicts that the S&P 500 will not surpass its current record of about 4,800 points for some time due to overpriced stocks. He also anticipates a downturn in the housing market due to the affordability crisis. Cooperman attributes these issues to years of near-zero interest rates and rampant government spending. He also noted that a bear market has already affected most stocks, with only a few Big Tech companies like Tesla, Nvidia, and Microsoft driving major indexes higher.
October 21, 2023 | 1:09 am
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Microsoft is one of the few Big Tech companies that have been driving major indexes higher this year, according to Leon Cooperman.
Despite the bearish market, Microsoft has been performing well and driving major indexes higher. This could potentially attract more investors, leading to a short-term increase in its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Nvidia is one of the few Big Tech companies that have been driving major indexes higher this year, according to Leon Cooperman.
Despite the bearish market, Nvidia has been performing well and driving major indexes higher. This could potentially attract more investors, leading to a short-term increase in its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Tesla is one of the few Big Tech companies that have been driving major indexes higher this year, according to Leon Cooperman.
Despite the bearish market, Tesla has been performing well and driving major indexes higher. This could potentially attract more investors, leading to a short-term increase in its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70