Billionaire investor Leon Cooperman cheers FANG stocks, says they're 'better than gold'

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Billionaire investor Leon Cooperman said that FANG stocks are 'better than gold' during a Monday interview with CNBC. He also said that he owns...

Big technology stocks have been at the forefront of the stock market's swift rebound rally from March lows fueled by the coronavirus pandemic. Investors have piled into the stocks and pushed them to record highs as they see technology poised to withstand the pandemic shock and recession.

Even though some of the most popular technology stocks are historically expensive, they might still be worth it, according to Cooperman."They are not cheap, they are pricey," said Cooperman."But, they are not pricey relative to interest rates.

He is not adding to his positions of FANG stocks, but is"sitting with them because these are great companies," he said. Cooperman also noted that the FANG stocks remind him of the"nifty fifty" stocks that led the market in the 1970s and included companies such as Avon,

 

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