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Key Words: ‘Bonds are the bubble, not stocks,’ says billionaire investor Cooperman

‘My world is cash and stocks. I think bonds are the bubble, not stocks.’

Leon Cooperman, Omega Advisors

Billionaire hedge-fund manager Leon Cooperman offered that assessment Wednesday in an interview with CNBC, in which he also argued that stocks are “fundamentally cheap” following a U.S.-led global equity rout last week.

Many investors last week argued that a rapid rise in the 10-year Treasury note yield TMUBMUSD10Y, +1.11% to a more-than-seven-year high above 3.26% helped spark a sharp decline that saw the Dow Jones Industrial Average DJIA, -0.36% lose more than 1,400 points in two days and led the blue-chip gauge and the S&P 500 SPX, -0.03% to their biggest one-day falls since February.

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