Leon CoopermanÂ is more concerned about the long-term ramifications of a Bernie Sanders presidency for the stock market than about the coronavirus’ impact on equities.Â
“I don’t have any insight into the coronavirus, but I assume, with all the great minds of the world focused on this problem, that in three or four months this will become resolved,”Â Cooperman, the billionaire investor and founder of Omega Advisors, told CNBC’s Scott Wapner on the “Halftime Report.”Â
But “there are things that are very troubling to me. No. 1 is Bernie Sanders,” said Cooperman. “He is not a socialist. He is, rather, a communist … I just hope the country isn’t ready to elect a communist or a socialist. If we do, I think the market is in store for a big problem.”
This isn’t the first time Cooperman has raised concern about the possibility of a Sanders presidency. In October, Cooperman said the market would crash by 25% if Sanders, or Sen. Elizabeth Warren, D-Mass., won the Democratic nomination.Â
Sanders currently leads most national Democratic primary polls, outpacing former Vice President Joe Bide, Warren, and former South Bend, Ind. Mayor Pete Buttigieg. He also eked out a victory overÂ Buttigieg in the New Hampshire primary last week.Â
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