Two months ago, Leon Cooperman assured us that coronavirus was no big deal because “the great minds of the world” would have it figured out within three months, four tops. In any event, it wouldn’t be as bad as a Bernie Sanders presidency.

Two months later, there’s definitely not going to be a Bernie Sanders presidency, but old Coop is sounding a bit more like his erstwhile Stalinist adversary.

“When the government is called upon to protect you on the downside, they have every right to regulate you on the upside,” Cooperman said. “So capitalism is changed….”

“Quickly if Biden wins, slowly if Trump wins, but taxes have to go up. So things like carried interest, capital gains taxes, the ability to roll over real estate sales tax-free, all that stuff is going to have to be eliminated. For the good, by the way,” Cooperman said….

“If you think of a sporting event or a concert, I can’t imagine they’ll come back until we have a vaccination,” he said.

Leon Cooperman says the coronavirus crisis will change capitalism forever and taxes have to go up [CNBC]

Related

LeonCooperman

Leon Cooperman Picks A Winner

Remember this, revolutionaries, when the reckoning comes.

LeonCooperman

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.

LeonCooperman

Leon Cooperman Is Done Wasting His Life On You People

Without spite to keep him going, there’s just no reason for him to run a hedge fund anymore.

Bernie Believe

Leon Cooperman Says Coronavirus NBD, Fellow Aged New Yorker The Second Coming Of Stalin

We can survive only one of these things, sayeth the crankiest of cranky old men.

Hot rod Bill Ackman.

Look Who’s The 391st Richest Person In America

He’s not as rich as Carl Icahn yet, but Bill Ackman will almost certainly outlive him.

By EncMstr (Own work) [GFDL, CC-BY-SA-3.0 or CC BY-SA 2.5-2.0-1.0], via Wikimedia Commons

Leon Cooperman Will Get To Spend Astronomical Amount Of Money To (Maybe) Clear His Name

The Omega Advisors chief will have to spend a little more to prove his "ex post facto promises don't count" theory of insider trading.

ackman-biden-beach

Bill Ackman Is Here To Help Trump See The Light, Save America

And he’s not about to take his first “L” of the Trump administration, unlike the outgoing commander-in-chief.