Leon Cooperman of Omega Advisors doesn’t think a bear market is coming. He quoted Sir John Templeton: “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria,” and explained that he doesn’t see euphoria now. He also offered the following four reasons not to expect a bear market:
- He sees no signs of U.S. recession;
- He doesn’t think stocks are overvalued;
- He cannot foresee any geopolitical event that will upend markets;
- He believes the Fed has been accommodative even as it raises rates.