This is the moment everyone waits for at the CNBC Institutional Investor Delivering Alpha conference — the ‘Best Ideas’ panel (hosted by the one and only Maria Bartiromo).Panelists include Jim Chanos, Leon Cooperman, Andrew Feldstein, Robert Kapito and Kathleen Kelly. Cooperman took the stage first with his idea, but first he gave us his view on the U.S. economy.
Cooperman is “moderately optimistic” about the U.S. because of there’s an accommodative monetary policy and no sign of recession, but there are macro constraints making him cautious.
In this environment, stocks are the best house in the financial asset neighbourhood, he said (though what neighbourhood we’re in, he’s not sure). The country is halfway through an economic expansion that you could argue will be longer than average.
“Number one, the economy is OK,” Cooperman said. However, he does thing that investors should avoid US government bonds because they’re “like walking in front of a steamroller.”
“There’s a good case to be made for a few more years of deleveraging…” he added later.
And then BOOM! Cooperman gave us 10 stock picks.
- Kinder Morgan
- Watson Pharmaceutical
- Western Union
- Capital One
- Express Scripts
- AIA Group Limited
“I would say I have more to give you… but i feel limited by the macro risk environment… I find lots of cheap stocks, ” he said.