Billionaire investor calls Elon Musk "phenomenal" but notes that $440 billion in market cap is incredibly hard to justify in any auto sales market.
Zell said he used to be one of the largest retail owners in the US, but called the industry a "falling knife" that hasn't reached its bottom yet.
Cooperman also noted that the FANG stocks remind him of the "nifty 50" stocks that led the market in the 1970s... even though many fell along the way.
Government support for workers and borrowers are set to expire. Strains between the U.S. and China could get worse. And the virus remains.