What Stocks Are Billionaire Investor Leon Cooperman Watching Right Now?

Leon Cooperman, chairman and CEO of Omega Advisors, reaffirmed his position as a "fully-invested bear" Thursday on CNBC's "Squawk Box."

The cyclical conditions are not ripe for a significant decline and based on current interest rates, most companies are not overvalued, Cooperman said.

His largest position is in energy stocks, he said. "I came into the year with overweighted energy and I'm even more overweighted now."

Divided Markets? Cooperman told CNBC that current conditions indicate a self-correcting bull market, but there are three distinct markets.

The first is the FAANG market, which he says is neither cheap nor expensive. However, Microsoft Corporation (NASDAQ: MSFT), Facebook, Inc. (NASDAQ: FB) and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) are very cheap relative to interest rates, Cooperman said.

See Also: Why Alphabet, Amazon, Microsoft Are Eyeing This $715B Sector

The second is "the Robinhood Market, which is a market I don't play in at all. I think it's crazy."

He refers to the third market as "the everything else market." It's hard to be negative on a stock like Citigroup Inc (NYSE: C) that is selling at a discount to tangible book value and trading at seven times earnings, Cooperman said.

"I'm finding things to do [in the market]. I hope I'm not overstaying my welcome."

Price Action: Microsoft was down 0.24% at $299.50, Facebook was up 0.28% at $378.63, Alphabet was up 0.28% at $2,905.73 and Citigroup was up 0.95% at $70.72 at time of publication Thursday morning.

Photo: Lorenzo Cafaro from Pixabay.