Hedge fund guru Leon Cooperman says he thinks the market has gotten a little ahead of fundamentals, but by and large he thinks the bull market has more room to run. Cooperman tells CNBC that he thinks two things could lead to a bear market: recession, or a reversal of Federal Reserve policies, neither of which he sees as happening soon. Cooperman says Federal Reserve Chairman Ben Bernanke has succeeded in getting the market to a fair value level. Given the absence of alternatives, he likes equities. “We find no shortage of cheap stocks,” he says.