Leon Cooperman knows a thing or two about the stock market. The billionaire hedge fund manager has worked the market for decades. As founder of Omega Advisors, he doesn’t just move his own money around the stock market. He invests for others as well. When it comes to the market, people listen to Leon Cooperman.
They should be listening when he discusses the prospects of a Democrat in the White House and the implications of their policies, which he noted are heading further to the left.
“The Democratic Party seems to be leaning towards the left on policies, which is very harmful for the economy. I don’t like the shift to the left,” he explained to CNBC, adding that the market, of course, will open, but it won’t be pretty.
He also said something else profound…
“It would be a bear market and they go on for a year and go down 25%,” he said. “You don’t make the poor people rich by making rich people poor.”
But the best quote pertained to one of the frontrunners directly, Elizabeth Warren.
“They won’t open the stock market if Elizabeth Warren is the next president,” he quipped.
It may not be THAT bad, but it might as well be. With the radical progressives’ push for Modern Monetary Theory, the economy as we know it would evaporate like a puddle in the desert.
We are currently forming the American Conservative Movement. If you are interested in learning more, we will be sending out information in a few weeks.
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