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Full interview with Leon Cooperman on Fed, Trump and his stock picks

Leon Cooperman, chairman and CEO of Omega Advisors, shared his market views in an interview Wednesday on CNBC's "Halftime Report."

On Federal Reserve policy: "I'm firmly of the belief, rightly or wrongly, that you're going to have capital losses in bonds over the next couple of years. It's going to unfold very slowly because the Fed is very reluctant to move. They're reluctant to move in part because of the problems of income disparity in the economy," Cooperman said.

"I think the Fed's monetary policy is designed to get more people to work to reduce the income disparity and reduce social stress, and I think there's an element of correctness in that."

On the stock market: "I think the market is reasonably fully valued. I don't think it's euphorically priced in any way," he said. "So I would say the conditions for a big decline are not present."

Before founding the hedge fund Omega Advisors in 1991, Cooperman was chairman and CEO of Goldman Sachs Asset Management.

He also discusses:

  • Active versus passive fund management
  • President Donald Trump
  • Aircraft leasing

To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.