The billionaire investor believes the stock market is in a 'zone of fair value' at current levels.
told CNBC on Thursday that he believes the stock market is in a "zone of fair value" at current levels.
The Omega Advisors chairman and CEO warned that a really big move higher in stocks from here could signal what he calls "the close out move," meaning the end of the recent bullish run. Cooperman, who now only runs his own money, questioned why Wall Street is looking for an interest rate cut by the Federal Reserve when the market is near record highs. He said the Fed has been too easy thus far, describing monetary policy as "inappropriate."closed Wednesday at 2,926 — less than 1% away from its all-time record high on May 1, and U.S. stock futures were pointing to a strong Thursday open.
If the S&P 500 were to increase to 3,100 in the near term — nearly 6% above Wednesday's close — would be "knocking on the door of euphoria," Cooperman said in a
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