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Notes From Omega’s Leon Cooperman on CNC

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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.