Reuters – Hedge fund manager Leon Cooperman, who has forecast that the Standard & Poor’s 500 stock index will hit 2000 this year, cautioned on Wednesday [July 16] that gains will be slower as the market is more fairly valued now.
“The markets finally found a fair level,” Cooperman, who runs the $10.5 billion Omega Advisers, said at the CNBC Institutional Investor Delivering Alpha Conference. “I expect the rate of appreciation to slow.” he said. The S&P 500 traded at 1,977, up 0.2 percent on Wednesday.
