It took a heart of stone not to laugh at the sight of grizzled Wall Street veteran Leon Cooperman choking up on cable TV recently as he condemned Warren’s proposal to introduce a wealth tax in the US.
When asked why he was becoming so emotional, the fund manager and former Goldman Sachs partner replied: “I care, that’s it.”
He then repeated his prediction that the election of Warren as the next president would lead to a 25% drop in equity prices, in a reminder that anyone who has worked as a Wall Street analyst – which is where Cooperman got his start at Goldman – will find it tough to shake a habit of making bizarrely specific forecasts about the impact of future events.
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