Banks have retreated from making markets, and that ‘scares the hell’ out of billionaire hedge fund manager Leon Cooperman

Prominent investors like Michael Burry have been voicing concerns about passively managed index funds. Burry recently warned passive investing has become a bubble.  Billionaire hedge fund founder Leon Cooperman said what “scares the hell” out of him is the lack of “stabilizers” in the market. He said the Volker rule and rise of momentum and high-frequency traders have changed the market structure. “The market is not the market we grew up with,” Cooperman said. 

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