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Holly LaFon
Holly LaFon
Articles (9428)  | Author's Website |

Leon Cooperman on CNBC: Rate Rise May Be More Positive Than Negative

Omega Advisors CEO says economic conditions didn't cause last week's sell-off

October 18, 2018 | About:
Leon Cooperman (Trades, Portfolio), founder of Omega Advisors, told CNBC Wednesday that quantitative trading systems caused last week’s market sell-off.

Economic conditions did not warrant a decline, he said.

“The things I look at would suggest that the market is okay. It’s not cheap, but it’s not expensive. It’s not an exciting message,” he said.

There is also a misplaced focus on interest rates, which will not have as large of an effect as people think.

“The market will allow for a rise in rates,” Cooperman said. “In fact, I think the rise in rates will be more positive than negative.”

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About the author:

Holly LaFon
I'm a financial journalist with a Master of Science in journalism from Medill at Northwestern University.

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