all declined more than 10% last week, their largest weekly drop since October 2008. The indexes ended the week in correction territory, meaning they were more than 10% from their record highs that were recorded in February.
There also are more than 2,900 deaths, and over the weekend Australia, Thailand and the U.S. reported their first coronavirus-related deaths.Cooperman said he considered himself "an uninformed optimist," but said investors who take a more bearish view on the coronavirus' economic impact should respond accordingly.
Cooperman also repeated his belief that Bernie Sanders' rise in the Democratic primary poses a serious risk to the stock market. He previously said the Vermont senator presented aWhile Cooperman said much of the market's recent tumult was likely attributable to the coronavirus, he said he believes investors will turn their focus to the presidential election eventually.
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This is the best advise one could give. He also should give the same advise to institutional investors who are causing panic in the market.
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Hard pass.
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