January 21, 2021
While stocks and index ETFs are rallying today amid the inauguration of President Joe Biden and strong corporate earnings, at least one financial pundit feels the future is more uncertain.
Billionaire investor Leon Cooperman told CNBC on Wednesday that he envisions a more challenging environment for stocks and index ETFs in the years ahead, after the market’s strong recovery from pandemic-era lows in the last 10 months.
“I think the near-term outlook is probably OK. Long term, I think that we’re borrowing from the future,” Cooperman said on “Squawk Box.”
“Whenever you bought into the market when it was selling at the present multiple of, say, 22 times or higher, you’ve never really made any serious money one year, three year, five years out. I think that’s what we’re looking at,” added the chairman of the Omega Family Office.