'They are just doing stupid things': Billionaire investor Leon Cooperman says the rise of Robinhood traders will 'end in tears'

Rick Wilking/Reuters

• The billionaire investor Leon Cooperman said the way amateur investors are piling into the stock market was bound to "end in tears."
• Markets have seen a boom in day traders using platforms like Robinhood to buy stocks in recent months, which has helped boost US indexes.
• That's likely to come tumbling down, Cooperman told CNBC this week, because many of these new investors lack investing knowledge.
• "They are just doing stupid things, and in my opinion, this will end in tears," he said.
• Visit Business Insider's homepage for more stories.

Amateur investors have been piling in money into different stocks and taking advantage of the market crash over recent weeks, but the billionaire investor Leon Cooperman has rebuked these gains and believes they will "end in tears."

Cooperman, who is the chairman and chief executive of Omega Advisors, told CNBC's "Half-Time Report" on Monday: "They are just doing stupid things, and in my opinion, this will end in tears."See the rest of the story at Business Insider

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