Leon Cooperman Gets Hit In July

On July 10, with the S&P 500 standing near 2,793, Omega Advisor’s Leon Cooperman and Steve Einhorn thought the broad-based stock market benchmark could deliver “a mid to high single-digit total return” by year-end. Now fast forward seven weeks and more than 100 S&P 500 points later, and Cooperman’s target is in the money. However, with the broad-based stock market benchmark up more than 8% year to date and with Monday heroics from the Dow Jones Industrial Average climbing over 26,000 and the NASDAQ breaching 8,000 for the first time, have investors seen most of the gains 2018 has to offer? If Goldman Sachs is correct, and Jerome Powell is really a wolf in sheep's clothing, three legs of Cooperman's...