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Billionaire Investor Leon Cooperman's Coronavirus Recovery Predictions

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Billionaire Investor Leon Cooperman's Coronavirus Recovery Predictions

Capitalism as we know it will "likely change forever" in a post-coronavirus world, billionaire investor Leon Cooperman said on CNBC's "Squawk Box" segment Thursday. 

Cooperman Expects Slow Recovery

Cooperman offered a handful of predictions on how the world will change once the coronavirus pandemic shifts away from the quarantine and stay-at-home phase:

1. Capitalism will change, as the government is attempting to protect the public from downside —which implies it has "every right" to regulate upside.

2. Taxes will "have to" go up and will do so "quickly" under a Joe Biden administration and "slowly" if Trump wins the election.

3. Low interest rates will not be viewed positively.

4. Demand for sporting events and concerts will rise slowly and even when there is a vaccine the public will need to carry some sort of "vaccination card."

5. Parts of the U.S. will likely reopen in May but an overall recovery will be slow.

Related Links:

Leon Cooperman Weighs In On Chamath Palihapitiya's Take On Government Bailouts

Leon Cooperman Doesn't See Big Upside Potential For The Market Right Now

 

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Posted-In: capitalism CNBC Coronavirus Leon Cooperman Squawk BoxMedia