Leon Cooperman on Trump administration
Republican policymakers’ big push to get a healthcare reform bill passed in Congress failed. Now Republicans are working to get a tax reform bill passed. Many market participants are expecting that the market (SPY) (QQQ) could show a strong pullback if tax reform doesn’t happen. However, Cooperman thinks something different. He said, “I don’t think we would tank unless the economy got derailed.” He also added about the Trump administration, “the Republicans can’t go into midterms 0-for-2…this country is going to move to the left.”
In regards to Trump, he added, “as a business person, I’d say his behavior ought to be somewhat different, and we’re going to pay a price if it isn’t different in the midterm elections, I don’t think it’s healthy, and I’d rather him tweet less and try to unify. We need a president that unifies.” Tax reform is expected to boost economic growth in the near future. If it doesn’t happen, then various US (VOO) indexes could fall.
In the next part of this series, we’ll analyze Leon Cooperman’s largest position.