Cooperman Sees Possible Correction, But Still Finding Values

Hedge fund guru Leon Cooperman thinks stocks may be headed sideways, or into a correction. But he’s still finding value in individual companies.

“I wouldn’t be surprised personally if the market got into corrective mode or we went sideways for a while,” Cooperman said at CNBC and Institutional Investor’s “Delivering Alpha” conference, CNBC reports. “I’ve got a sense that I could be wrong because (Fed Chairman Ben) Bernanke is getting his way. Everyone is moving out to varying degrees on the risk curve.”

Cooperman says the expected 4% earnings growth for the S&P 500 companies this year doesn’t merit the 18% gains the index has seen. “What bothers me is … what the wise man does in the beginning, the fool does in the end,” he said. But he still is finding plenty of individual stocks that he likes. Among his top 10 picks: Express Scripts, Chimera Investment, and SandRidge Energy.