Cooperman Talks Stocks, Bonds, And Oil

Hedge fund guru Leon Cooperman says stocks are fully and fairly valued. Bonds are another story, though, he says.

Cooperman recently told CNBC that the stock market “isn’t priced to perfection” but is fairly valued. The market “isn’t cheap, but it’s not expensive,” he said.

“I think the bond market is overvalued, but the stock market is about 16.5 times earnings and [it] seems about right ” Cooperman said. He’s high on a handful of large-cap stocks, such as Citigroup, Dow Chemical, and Google, and also thinks energy prices will rise. His firm estimates gas prices will be between $3 and $3.50 per gallon by year-end, with oil climbing to about $70 a barrel.