On CNBC’s Halftime Report last week, Omega Advisors CEO Leon Cooperman shared his views on the market and its direction.
“The market’s not cheap,” Cooperman said, “but it’s not expensive…it’s approaching normalization.” He shared that his fair value is approximately 17 times forward earnings and that, if President Trump can get tax reform through Congress, he forecasts $150 in S&P 500 earnings per share in 2018.
Cooperman argued that “we have another 10 to 15 percent to go” for the bull market to end, adding that the market isn’t showing signs that typically point to a major decline, such as:
- Accelerating inflation;
- Oncoming recession;
- “Hostile” Fed;
- “Some kind of significant geopolitical event.”
