Tags: leon cooperman | bonds | stocks | investors

Cooperman: Bonds Overvalued but Stock Valuations 'About Right'

By    |   Tuesday, 05 May 2015 08:38 AM

Legendary investor Leon Cooperman said while “the bond market is overvalued” the current stock market is “about right.”

Cooperman, chairman and CEO of the $9 billion hedge fund Omega Advisors, also touted a handful of stock, including Actavis, AerCap Holdings, Citigroup, Dow Chemical, General Motors, Google and Priceline Group.

"I think the bond market is overvalued, but the stock market is about 16½ times earnings and [it] seems about right," Cooperman told CNBC. The stock market is "fully valued," he said, adding that it "isn't cheap, but it's not expensive" either.

Meanwhile, billionaire investor Warren Buffett said on Saturday that stock prices would appear expensive if interest rates normalized from their ultra-low levels, Reuters reported.

"If we get back to normal interest rates, stocks at these prices will look high," said Buffett, speaking at the annual shareholders' meeting of his sprawling conglomerate Berkshire Hathaway Inc.

Buffett, one of the world's most famous investors, is widely followed for his advice on finance and life. While he often emphasizes the importance of not basing long-term investing decisions on short-term economic expectations, his views on the U.S. and global economies carry significant weight well beyond Berkshire Hathaway's shareholders.

(Reuters contributed to this report.)

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Legendary investor Leon Cooperman said while “the bond market is overvalued” the current stock market is “about right.”
leon cooperman, bonds, stocks, investors
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2015-38-05
Tuesday, 05 May 2015 08:38 AM
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