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Billionaire Cooperman: Strong Stock Market Returns Ahead

The U.S. stock market isn’t overpriced and may gain as much as eight percent annually over the next three to five years even if there’s an economic setback, Omega Advisors Inc.’s billionaire founder Leon Cooperman said Sunday.

“I think the market’s OK,” Cooperman, chairman and chief executive officer of the New York-based hedge fund, which manages $9.5 billion in assets, said on the television program “Wall Street Week.” “It’s not cheap, but it’s not priced to perfection. The bubble is not in the stock market. If there’s a bubble, it’s in the bond market.”