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Euro 'Overpriced,' US Housing Good: Tavistock's Joe Lewis

Joe Lewis
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Joe Lewis

Investor Joe Lewis took a bullish view of housing and the stock market, and he called out specific global currencies and the crisis in Cyprus,

In an interview Monday on CNBC's "Fast Money Halftime Report," Tavistock Group's Lewis said the bailout of Cypriot banks, which the tiny nation rejected, was "a lot opportunity."

The Cyprus banking crisis, he added, was "just going to be the next case of someone holding them hostage."

Lewis was more sanguine on the prospects for the United States.

The housing market was "good, good and better," he said, adding that several good things were happening in the United States that would benefit the stock market.

"Onwards and upwards," he said.

Lewis, who made a fortune playing the global currency markets, also weighed in on the euro, the Mexicanpeso and the Japanese yen.

The euro, he said, was "overpriced," adding that fair value was in the range of $1.10 to $1.20.

Calling Europeans "their own worst enemy," Lewis criticized the continent for "making themselves uncompetitive."

Nothing, he added was wrong with a strong currency if everyone's playing the same game.

Looking to Asia, Lewis said that shorting the yen against the dollar will be a "far longer trade than people realize."

(Watch: Tavistock Group: Investing in Luxury Real Estate)

He added that he has had "a very large position" in that trade.

Lewis also said that he liked the Mexican peso, revealing that he's been "an aggressive buyer" of the currency.

Mexico, he added, has "all the right characteristics."

Trader disclosure: On March 25, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Steve Weiss is long C; Steve Weiss is short BHP; Steve Weiss is short RIO; Steve Weiss is short VALE.

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