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Billionaire Leon Cooperman, in an interview on CNBC on Wednesday morning, admitted he’s “lost lots of money” this week, just like most investors, but at this point, he says he’s a buyer in this market.
However, he cited two issues that need to be resolved:
‘One is the coronavirus, does it get under control in a reasonable timeframe? And second that we don’t have a socialist or communist in the White House.’
Cooperman, while acknowledging he’s no expert on outbreaks, remains confident that “mankind will conquer” the coronavirus problem and the clouds hanging over the stock market will clear by June.
He also seems to believe that the “socialist problem” will also go away when the final votes are tallied later this year.
“I don’t think the country is so leftist in its orientation that a Bernie Sanders or Elizabeth Warren will be elected president,” Cooperman said.
Cooperman has for a while now been hammering home his view that the U.S. — and the stock market, in particular — could be in trouble come November. Last week, he said Bernie Sanders is a bigger threat than a viral outbreak.
At one point, Cooperman compared the coronavirus to “a blemish” on “a beautiful lady,” which, as CNBC points out in this tweet, is the very moment he became a trending topic on Twitter TWTR, +1.08% :
Watch the full interview:
As for the stock market, there was a bounce underway on Wednesday morning, with the Dow DJIA, +1.33% , S&P SPX, +1.39% and Nasdaq COMP, +1.68% all recouping some of their recent losses.
