Reuters/ Rick Wilking
Leon Cooperman has some bearish picks.
Leon Cooperman, chairman and CEO with Omega Advisors, says he thinks the stock market will end higher for 2015.
"Historically, after the first Fed rate hike, the market was nine-and-a-half percent higher" for the first year afer rate tightening, he said. Cooperman presented his picks Monday afternoon at the Sohn Conference Foundation at Lincoln Center in New York. "Bear markets do not materialize out of immaculate conception."
Outside of historical Fed factors, Cooperman pointed to market economists,
"They don't see a recession arising," Cooperman said, adding: "If we go into a vicious bear market then my picks won't work."
- Actavis: "a projectable 15% growth rate..."
- Citigroup: "A bit of a turnaround... we met [CEO] Mike Corbat, we like his story."
- General Motors, Google, and Priceline, as well.
This went pretty fast, so here's a screenshot of all of Cooperman's pics from Bloomberg's Joe Weisenthal:
Leon Cooperman's stock ideas #Sohn2015 pic.twitter.com/jcBun946MZ
- Joseph Weisenthal (@TheStalwart) May 4, 2015"There's lots to worry about in the geopolitical arena but I can't forecast it," Cooperman noted.
Still, Cooperman has his doubts on some fixed asset classes.
"If theres a bubble out there, there's a bubble in the fixed income market," he said.