During CNBC/Institutional Investor's Delivering Alpha conference billionaire hedge fund manager
It happened during "The Great Rotation" panel with guests Gregory Fleming, Morgan Stanley Wealth Management; Josh Friedman, Canyon Partners; Michael Hintze, CQS; and Andrew Spokes, Farallon.
CNBC host Becky Quick turned from the panel to ask Cooperman, who was sitting in the audience, where we are in the Great Rotation out of bonds.
Cooperman, who was prepared, stood up and said "I'll give you six reasons" on why he thinks government bonds are a bad bet. Everyone in the audience started laughing.
We couldn't catch all of his reasons, but he says bonds are more expensive relative to equities. He also sees bond yields moving higher in 2 to 3 years.
He said he'd rather take his chance in equities. During last year's Delivering Alpha, Cooperman gave ten stock picks. All of them are higher, some even substantially higher.
Absolute Return reporter Lawrence Delevingne Tweeted a picture of Cooperman. Check him out:
Only at #DeliveringAlpha: Lee Cooperman rises from audience to make case for equities over bonds for next 2-3 yrs pic.twitter.com/ktzxKsiI1e
— Lawrence Delevingne (@ldelevingne) July 17, 2013