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April 13, 2011 at 12:53 PM
Leon Cooperman gave a very impressive interview recently on CNBC. Among his thoughts:
- The United States is in the early stages of an economic recovery, but with the market doubling in the last year optimism should be tempered.
- Stocks remain attractive relative to inflation, market history (relatively modest P/E ratio of 12.5-13.5) and interest rates.
- High money market fund balances and pension fund cash reserves should push stocks higher.
- He views stocks favorably since the other choices — including credit and Treasuries (he is short those) are not attractive.
- He views government attempts at liquidity management (i.e. QE2) as destroying the incentive for people to save money.
Overall a great video clip and worthy of a view.
