Cooperman Growing Less Bullish on Stocks, But Sees Few Alternatives

Hedge fund guru Leon Cooperman has become a bit less bullish on stocks, though he thinks they are still the best asset class available for investors. Cooperman tells CNBC’s Larry Kudlow that the market is in “a zone of fair valuation”, and that he isn’t aggressively bullish or bearish. The main reason he’s become more neutral on stocks, he says, is that he thinks the profit cycle is peaking. He says, however, that with the Federal Reserve keeping interest rates so low, there aren’t better options than stocks right now. He also says that with many investors still de-risking and mindful of what happened in 2008, stock valuations remain reasonable.