US Markets

Cooperman: I don't see a lot of excesses in market

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Dramatically changed market structure: Cooperman

Longtime financial expert Leon Cooperman remains optimistic on the U.S. market, he said Monday.

Cooperman, chairman and CEO of Omega Advisors, told CNBC's "Fast Money: Halftime Report" that there is much to be optimistic about in the U.S. stock market.

"We feel pretty comfortable," Cooperman said, adding that "I've been far too cautious on bonds, but believe me they make no sense at this level of return."

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Cooperman said he expects the market to end the year higher than it is today—with only major economic downturn or geopolitical eruption potentially hurting that prediction.

Omega Advisors CEO Leon G. Cooperman speaks at the CNBC Institutional Investor Delivering Alpha Conference in New York.
Heidi Gutman | CNBC

"Bear markets don't materialize out of immaculate conception," Cooperman said, explaining that the only excess he can find in the U.S. market is the Federal Reserve's monetary policy.

Even the deflation fears that have some mark-watchers worried could end up being a positive for the economy, Cooperman said, calling it "high quality deflation" when consumers find products like gasoline cheaper.

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And, compared to other advanced economies, the U.S. is attracting "a lot of money," Cooperman said.

Discussing his own stock picks, Cooperman revealed that he had bought into Shire after the stock fell last week on news that the pharmaceutical firm dropped its offer for Abbvie.

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