Tags: 2020 Elections | Trump Administration | leon cooperman | stocks | bull market | warren

Leon Cooperman: 'One More Leg' Higher Before Bull Market Ends

By    |   Wednesday, 16 October 2019 09:58 AM

Investing guru Leon Cooperman predicted that a presidential victory for Democrat Elizabeth Warren could send the stock market spiraling down by 25%.

“You don’t make poor people rich by making rich people poor,” the founder of Omega Advisors told CNBC.

Meanwhile, he thinks that the current bull stock market will take another leg higher before coming to an end.

“There’s one more leg left in the market. It could be 10% up over the next six months,” Cooperman warned.

But for the time remaining in President Donald Trump's first term, there are financial storm clouds on the economic horizon.. “I don’t see euphoria other than in the IPO market, and that has already been corrected,” he said.

The current bull market started in March 2009 and is the longest on record. In that time, the S&P 500 has surged more than 300%. The S&P 500 has had a stellar year thus far, rallying about 20% through Tuesday’s close, CNBC.com explainedm

“If the president resorts to another round of tariffs, that will increase the probability of a recession, and if we have a recession the stock market drops at least 25%,” Cooperman said.

For his part, Trump predicted the U.S. economy would crash if any of the Democrats were elected president.

Trump bashed the Democratic presidential hopefuls and called them “clowns” after their debate.

Trump’s remarks came in a Wednesday morning tweet. He wrote: “Our record Economy would CRASH, just like in 1929, if any of those clowns became President!”

Meanwhile, economic research firm Moody’s Analytics said on Tuesday that a strong U.S. economy could help Trump win re-election next year unless there is a surge in voter turnout,

Across American universities and on Wall Street, researchers are honing computer models designed to predict the winner in the November 2020 election in which the Republican Trump will face a Democratic candidate still to be determined.

What makes Moody’s Analytics stand out is its focus on local economic conditions, which have drawn attention this year as a U.S.-China trade war has hit America’s industrial heartland even as the national economy has stayed more buoyant, Reuters explained.

The outcome of U.S. presidential elections is based on electoral college votes determined through state-by-state voting results rather than the national popular vote.

The research firm, known for its expertise on economies at the national and local levels, said factors boosting household finances across much of the country could lead to Trump winning 332 votes in the electoral college to 206 votes for the Democratic candidate.

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Investing guru Leon Cooperman predicted that a presidential victory for Democrat Elizabeth Warren could send the stock market spiraling down by 25%.
leon cooperman, stocks, bull market, warren
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2019-58-16
Wednesday, 16 October 2019 09:58 AM
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