Influential Investor: If Elizabeth Warren Becomes President, They May Not Even Bother Opening The Stock Market
Elizabeth Warren would be a horrible president for the economy and people in business know this.
One well known investor recently said that if she won, the stock market wouldn’t even open. Billionaire investor on Elizabeth Warren as president: Market might not even open
That’s Leon Cooperman, the billionaire boss at Omega Advisors, joking to a crowd at the Delivering Alpha conference in New York this week about what a win for the left could ultimately mean for investors.
He wasn’t joking, however, in his belief that somebody like Elizabeth Warren in the White House would be disastrous for the stock market.
“The Democratic Party seems to be leaning towards the left on policies, which is very harmful for the economy. I don’t like the shift to the left,” he explained to CNBC, adding that the market, of course, will open, but it won’t be pretty.
“It would be a bear market and they go on for a year and go down 25%,” he said. “You don’t make the poor people rich by making rich people poor.”…
“Her policies are counterproductive,” Cooperman said. “They’re negative for capitalism, and capitalism is what brought America into the position we’re in today.”