Leon "Lee" Cooperman is a billionaire investor and former hedge fund manager who once helmed New York's Omega Advisors (which shut down in 2018). Much like Warren Buffett, Charlie Munger, and other wealthy and older investors, people look to Cooperman for investing advice.
Despite the fact that Cooperman is known for insider trading and controversial statements about protecting the wealth of rich people, investors are interested in how he gets such solid returns. What's in Cooperman's stock portfolio and how can investors emulate his hedges and opportunities?
Lee Cooperman has big words about over-stimulus.
Cooperman told CNBC on Dec. 16, "I think we've had very aggressive fiscal and monetary policy and I think it is going to come and bite us in the ass."
While Cooperman doesn't see signs of a near-term recession, he's worried about the future from a wider outlook. He says that speculative assets, like meme stocks, are particularly vulnerable.
However, Cooperman said that "inflation is a friend of common stocks" because their prices rise, too.
Cooperman is enthusiastic about energy stocks.
At the end of the third quarter of 2021, Cooperman told his friends at CNBC that his largest position is energy. "I came into the year with overweight energy and even more overweight now. I look at the natural gas situation. Storage levels are way below historical norms, and the price of natural gas has moved up quite dramatically," Cooperman said about the sector.
Cooperman's favorite stocks in the energy sector include:
Tourmaline Oil (OTC:TRMLF)
Paramount Resources (OTC:PRMRF)
Devon Energy (NYSE:DVN)
Energy Transfer (NYSE:ET)
Pioneer Natural Resources (NYSE:PXD)
More details about Lee Cooperman's stock portfolio
At the end of the third quarter of 2021, Cooperman added to his positions in Bausch Health Companies Inc. (NYSE:BHC), Coterra Energy Inc. (NYSE:CTRA), PennyMac Financial Services (NYSE:PFSI), General Motors (NYSE:GM), and more.
At the time, the only new buy for the quarter was Las Vegas Sands Corp. (NYSE:LVS), although Cooperman added positions in Ventas Inc. (NYSE:VTR) and Lithia Motors Inc. (NYSE:LAD) the quarter prior.
Cooperman sold the remainder of his positions in Ferro Corp. (NYSE:FOE), Credit Suisse Group AG (NYSE:CS), and the iShares MSCI ACWI Low Carbon Target ETF (CRBN).
Investor and former hedge fund manager
Net worth: $2.5 billion
- Birth place: New York, N.Y.
- Wife: Toby Cooperman (m. 1964)
- Children: Wayne Cooperman, Michael Cooperman
Lee Cooperman's father was a plumber in the Bronx. Cooperman grew up going to public school and pursued higher education at Hunter College (Bachelor's degree) and Columbia University (MBA). He worked for Goldman Sachs for 25 years before starting his own hedge fund.
Lee Cooperman's net worth is in the billions.
Cooperman once led Omega Advisors and it held $3.3 billion in assets under management. However, he settled SEC insider trading charges in 2017 and paid nearly $5 million in fines without having to admit his guilt. A year later, Omega shut down and Cooperman funneled his wealth through charitable foundations.
Cooperman's net worth is estimated to be $2.5 billion.
Directly suggesting that modern folks have a habit of vilifying the wealthy, Cooperman is staunchly against upper-class taxation and thinks that progressive senators, like Massachusetts' Elizabeth Warren, are foolish in their beliefs that taxing the rich will solve problems.