Sunday 19th of November 2017

Cooperman: Why this is no bear market yet PDF Print E-mail

Jacob Bramuk writes at Friday, January 15:

Stocks have endured a rough year, but they may not fall into a bear market just yet, widely followed hedge fund manager Leon Cooperman said Friday amid a sell-off in U.S. equities.

"I'm not selling. I'm holding on because I do believe this is a growth scare and not a bear market," the billionaire CEO of Omega Advisors said on CNBC's "Fast Money: Halftime Report."

Major U.S. averages all fell around 3 percent on the day amid a plunge in oil prices and a string of disappointing economic data, including retail sales and industrial production. Both U.S. and Brent crude traded below $30 per barrel on Friday.

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