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Billionaire investor Leon Cooperman says the S&P 500 won't hit a new high for a long time - and predicts a US recession and stubborn inflation
12.2.22 - Will stocks recover in this decade?
Gold last traded at $1,797 an ounce. Silver at $23.14 an ounce.
- Markets Insider
- Leon Cooperman expects the S&P 500 to eke out mediocre returns for the rest of this decade.
- The billionaire investor predicts a US recession and stubbornly high inflation.
- Cooperman trashed crypto, saying he was happy the government never endorsed it.
US stocks will suffer a hangover for years, and the US economy will endure stubborn inflation and slump into recession, Leon Cooperman has warned. He also trashed cryptocurrencies following the recent collapse of Sam Bankman-Fried's FTX exchange.
"We've been through probably the most speculative period in our financial history, aided and abetted by foolish fiscal and monetary policy," the billionaire investor told CNBC on Wednesday.
Cooperman pointed to the boom in cryptocurrencies, special-purpose acquisition companies (SPACs), and commission-free trading during the pandemic, fueled by near-zero interest rates and historic amounts of government stimulus.
