Leon Cooperman: US Will Avoid Recession, Stocks ‘Appealing’

Tuesday, 18 Oct 2011 10:12 AM

 

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The U.S. economy will avoid a recession and American equities offer “appealing valuations,” according to Leon Cooperman, the chairman of hedge fund Omega Advisors Inc.

“Stocks are cheap relative to history, relative to inflation, relative to interest rates,” he said today during a presentation at the Value Investing Congress in New York. “The recent facts suggest the economy is accelerating moderately.”

Cooperman said investors should avoid Treasuries.

“Stay away from U.S. government bonds,” he said.

The investor recommended buying shares in 10 companies: Apple Inc., Boston Scientific Corp., KKR Financial Holdings LLC, Qualcomm Inc., SLM Corp., Transocean Ltd., E*Trade Financial Corp., Sunoco Inc., ACE Ltd., Energy XXI (Bermuda) Ltd.

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