Tags: 2020 Elections | leon cooperman | bear | stock | market | elizabeth warren

Leon Cooperman Sees Bear Stock Market If Elizabeth Warren Wins

(Sheila Fitzgerald/Dreamstime)

By    |   Thursday, 19 September 2019 02:20 PM

Legendary hedge fund manager Leon Cooperman said he fears the shift to the left in the political landscape, which he warns will hurt the economy and the stock market.

“There’s unquestionably a shift to the left in this country,” Cooperman said on CNBC.

“You don’t make the poor people rich by making rich people poor,” Cooperman said. “The Democratic party seems to be leaning towards the left to the policy, which is very harmful for the economy. I don’t like the shift to the left,” the CEO of Omega Advisors said.

“They won’t open the stock market if Elizabeth Warren is the next president,” he joked. The stock market will open if Warren wins, it will just be “a hell of a lot lower,” Cooperman said. “It would be a bear market and they go on for a year and go down 25%,” Cooperman said.

For her part, Democratic presidential candidate Warren on Monday denounced the corruption she argues has crippled the country’s politics and economy, drawing her largest crowd thus far in a sign of her campaign’s growing strength, Reuters reported.

“When you see a government that works great for those with money and connections, and doesn’t do much for anyone else, that’s corruption, plain and simple, and we need to call it out for what it is,” Warren said, as thousands of New Yorkers holding up “I’m a Warren Democrat” placards cheered underneath an overcast sky in Manhattan’s Washington Square Park.

Warren, a U.S. senator from Massachusetts, is the only Democratic candidate out of a field of 20 who has seen her standing steadily rise in public polling throughout the campaign.

Ahead of the rally, Warren proposed what she called the “biggest ‘end corruption’ plan since Watergate,” a series of steps she outlined in her speech.

Among other actions, Warren said she would “end lobbying as we know it,” banning senior officials and lawmakers from ever becoming lobbyists and severely restricting the ability of lobbyists to influence public policy.

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Legendary hedge fund manager Leon Cooperman said he fears the shift to the left in the political landscape, which he warns will hurt the economy and the stock market.
leon cooperman, bear, stock, market, elizabeth warren
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2019-20-19
Thursday, 19 September 2019 02:20 PM
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