Cooperman: Brexit Is A Fad, Watch Fed, Valuations, Euphoria; Bridgewater Worries

Omega Capital’s Leon Cooperman looks at the world as if it is a mathematical calculation. In a presentation with Evercore ISI this week, Cooperman essentially said: 1) those who think stock multiples are high need to understand relative value analysis; 2) those that think high frequency trading is the savior of market liquidity and stability need to look closer at market structure and the January-February market sell off, and 3) Brexit? Catch a clue. Even though most fund managers thought remain was going to win, the demagoguery that intelligent professionals could see through during the campaign fatally hurt the Remain…