Here’s how long it will take for the bull market to return

The start of a new bull market is not on the cards at least for anytime soon, says Leon Cooperman. He’s the Chairman and CEO of Omega Family Office.

Highlights from Cooperman’s interview on CNBC

Cooperman warns the fiscal and monetary policy in recent years have set us up to linger in the bear market for a while. Speaking with CNBC’s Joe Kernen this morning on “Squawk Box”, he said:

The S&P 500 index slipped into the bear market territory after a worse-than-expected CPI print for May on Friday.

Buy the dip philosophy to fade moving forward

Cooperman sees “now” as comparable to the great financial crisis and expects “buy the dip” philosophy to increasingly lose traction moving forward. He noted:

The U.S. Fed is scheduled for a policy meeting on Wednesday. Many are convinced the benchmark index down more than 20% for the year is now pricing in a 75 bps increase in interest rates tomorrow.