Leon Cooperman: I'm not buying any new stocks because the bull market is so advanced

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If the Fed cuts interest rates, it will have to convince the public it is doing so to preserve economic growth and not kowtowing to a very vocal president.

told CNBC on Wednesday that he's not purchasing any new stocks right now because the bull market is so advanced.

"We have not really added anything new to a lot of things we have," the Omega Advisors chairman and CEO said on"We're having a decent year. We're up double digits, and it's only on about 65% exposure" to risk assets with the rest in cash. "I'm reluctant to open new positions because I think we're in an advanced part of the cycle," added Cooperman, whose firm is now closed to outside investors.

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No one that knows markets or money buys in a Bull Market. That’s not rocket science.

HalftimeReport Coop is very wise& nice. Weiss could learn something from him but he won't cuse he is so miserable. Pete should kick his ass.

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