Leon Cooperman Won’t Tell The President What To Do But Sure Hopes Someone Else Does

He also hopes that a different elderly billionaire is president in 2021.
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There once was a time that Leon Cooperman had the president’s ear. Specifically, that time he had dinner with him, and the president asked him whether he thought Amazon was a monopoly. Twice. Both times, Cooperman gave the wrong answer, because he took the question at face value and failed to understand that, to Donald Trump, words like “monopoly” have no meaning except as potential weapons against perceived enemies, and therefore that saying Amazon is a monopoly does not mean that it has exclusive control over a particular commodity or service, but that it is a bad company run by someone who does not like Donald Trump and is thus a monopoly because calling it one might allow Donald Trump to destroy it.

LeonCooperman

Because Leon Cooperman does not provide the answers Donald Trump wants to hear, and also because—in spite of their shared antipathy for Barack Obama—Leon Cooperman has now publicly admitted he did not vote correctly in November 2016, Donald Trump will not be asking Leon Cooperman any more questions. Which is fine with Cooperman, because he is not interested in telling Donald Trump “how to conduct himself.” But if he could, he’d tell the president to knock it off with these tariffs, which he is even less fond of than houseguests who fail to make the sofabed. And he certainly hopes someone will say that to the president, and that he’ll listen for the first time in his life.

Billionaire investor Leon Cooperman told CNBC on Wednesday he's "not a fan" of Donald Trump's recent metal tariffs on U.S. allies and hopes the president will back down…. "If he listens to his advisors, hopefully, enough sane people in Washington will tell him 'let's back off on this trade stuff,'" the chairman and CEO of Omega Advisors hedge fund said on "Squawk Box.”

Barring that, Cooperman’s got his eye on the perfect successor. A moderate, a centrist, someone who can unify the country. Someone who can solve this North Korea thing. Someone who doesn’t mind giving this commie pope a piece of his mind. Someone who knows all we need is another rich, elderly billionaire president to fix the mess being made by the current rich, elderly billionaire president, especially since his first non-billionaire choice isn’t really viable anymore. Someone who won’t hesitate to compare his political opponents to Nazis. (No wonder this guy thought so highly of candidate Trump.)

Cooperman said he would prefer someone in office like billionaire businessman and philanthropist Ken Langone, saying the Republican co-founder of Home Depot is "one of the finest human beings I've ever met."

Separately, in spite of the tariffs and inflation and rising interest rates and the tight labor market, Cooperman remains super-bullish on stocks, which he thinks you should sell, by the way.

"I would be a reducer on strength, not a buyer on strength," he added. "I think if we get the 10-year [yield] over 3.5 percent that could be very competitive to the stock market. We're not there yet…."

Cooperman cautioned that while trouble could be ahead for late next year, he isn't ready to head to the exits just yet, saying "the conditions normally associated with a big decline are not yet present."

Leon Cooperman: Trump would be wise to ‘back off’ on tough trade tariffs [CNBC]
Billionaire investor Cooperman says he would sell stocks on strength because market is fairly valued [CNBC]

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