Billionaire investor Leon Cooperman said he's still holding a cautious view on stocks and the economy, but he's finding cheap stocks to buy after the recent correction. "I would basically take the position that we're in a market of stocks rather than a stock market," Cooperman said on CNBC's " Closing Bell Overtime " Thursday. "I think anybody looking for a new bull market anytime soon is looking the wrong way.
He said he believes the economic downturn could be brought on by the Federal Reserve's quantitative tightening, a strong dollar and high oil prices. Cooperman expects that inflation has cooled quite a lot in the wake of the Fed's aggressive rate hikes. The central bank has raised its benchmark interest rate to its highest level in 15 years, but is signaling more increases may be needed to bring soaring inflation under control. "The inflation rate has come down quite dramatically.
I was listening while driving today and couldn't hear the name of the energy company he talked about. Can anyone share it with me please? TIA!
Ron = CNBC The shell = billionaires