Leon Cooperman, the founder of $10.7 billion hedge fund firm Omega Advisors, doesn't believe stocks are overvalued.
"There are pockets of overvaluation," Cooperman said Wednesday during a "Squawk Box" appearance at the Delivering Alpha conference presented by CNBC and Institutional Investor. "But….the market is basically in a zone of OK."
Cooperman said signs of a recession would make him bearish, but he noted that indicators were largely positive. "On balance things are getting a little better in the economy," the billionaire investor said.
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