Jack Bogle Mocked Leon Cooperman For His Prediction About What Stocks Would Do If Obama Won

Jack Bogle

Photo: CNBC screenshot

Billionaire hedge fund heavyweight Leon Cooperman, the founder of $6.5 billion Omega Advisors, predicts that in the event of a Mitt Romney presidential victory the S&P 500 will gain 100 points and if Obama is re-elected it will lose 15 points, the investor said earlier today on CNBC’s “Half Time Report.” Jack Bogle, the retired founder and CEO of Vanguard, disagrees with Cooperman’s idea. 

Here’s what he said on CNBC’s “The Closing Bell”: 

“Did he really say take away 15 points?…Well anybody who can get this market down to a 15 point change is not my kind of guy. You know, I like Leon, but who the heck knows?!  15 points is nothing.” 

“I think he’s dreaming.  I really respect the man, but I don’t think anybody knows.

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