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A billionaire Columbia grad said college students have "shit for brains" for not supporting Israel. AdvertisementAdvertisementA billionaire who gave more than $25 million to Columbia University said students had "shit for brains" for not supporting Israel, and he may have to donate elsewhere unless he sees a "change.'" Leon Cooperman, the chairman and CEO of Omega Advisors and a 1967 graduate of Columbia Business School, made the comments during an appearance on "The Claman Countdown" on Fox Business on Wednesday afternoon. He was primarily referring to a walkout at Columbia University on Wednesday, where students stepped out of their classes to support Palestinians amid worsening violence in Gaza. AdvertisementAdvertisementThe hedge fund boss said he has given "probably about $50 million over many years" to Columbia University.
Persons: , Leon Cooperman, Cooperman, Joseph Massad Organizations: Columbia, Service, Columbia University, Omega Advisors, Columbia Business School, Fox Business, Wednesday, Modern, Hamas Locations: Israel, Columbia, Gaza
Leon Cooperman warned of sticky inflation, higher interest rates, and a potential recession. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementShort-sighted officials have paved the way for stubborn inflation, steeper interest rates, and a full-blown recession, Leon Cooperman told Insider in an interview this week. As prices continue to jump, Cooperman suggested interest rates — which the Fed has raised from virtually zero to above 5% during the last 18 months — could rise further.
Persons: Leon Cooperman, Cooperman, , Goldman Sachs, that's, frugally, We've Organizations: Service, Reserve, Omega Advisors, Yankee, Hyundai, Treasury Locations: Bronx, Washington
Insider Today: You should buy a house now
  + stars: | 2023-10-23 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +6 min
AdvertisementAdvertisementIn today's big story, we're looking at why it's a good time to buy a house. RichLegg/Getty ImagesIt's a pretty terrible time to buy a house these days, which is why it's a good time to buy a house. AdvertisementAdvertisementInsider's Jennifer Sor detailed why it's a good time to buy a house. Part of the issue is that mortgage rates won't magically drop overnight. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.
Persons: OpenAI's Sam Altman, Jennifer Sor, Jacob Zinkula, they're, that's, Gen Zers, who's, it's, Doug Haynes, Haynes, Steve Cohen's Point72, Leon Cooperman isn't, Arantza Pena Popo, carmakers, EVs, Tyler Le, Satya Nadella, Mathias Döpfner, Axel Springer, Jensen Huang, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: FBI, RichLegg, Norias Research, Investments, Ameriprise, Insurance, Microsoft, Activision Blizzard, Nvidia, ZTE Corp, Philips, NBA Locations: West Palm Beach, Fla, Tokyo, Oklahoma City, New York City, San Diego, London, New York
The billionaire investor said he didn't expect the S&P 500 to hit a fresh high for a long time. Cooperman said a "rolling correction" was underway and house prices were likely to drop. AdvertisementAdvertisementLeon Cooperman said stocks were overpriced, and the S&P 500 wouldn't notch a fresh high for a very long time. AdvertisementAdvertisementA handful of Big Tech names, including Tesla, Nvidia, and Microsoft, have pulled the major indexes higher this year, but excluding the so-called Magnificent Seven, stocks are virtually flat. He said in February that the S&P 500 was likely to bottom around 3,100 points, or 35% below its January 2022 peak.
Persons: Leon Cooperman, Cooperman, , Jeremy Grantham, John Hussman, Goldman Sachs, Tesla Organizations: Service, Omega Advisors, Big Tech, Nvidia, Microsoft, Wall, Finance, Philanthropy Locations: Bronx
Leon Cooperman at the 2019 Delivering Alpha conference in New York on Sept. 19, 2019. Billionaire investor Leon Cooperman said he remains a bear with little interest in the broader stock market, partly because it's underestimating the risk of a fiscal crisis. "I'm of the view that we borrow from the future with very profligate fiscal policy," Cooperman said at CNBC's Financial Advisor Summit. "Ultimately, we will have a crisis in public sector finance, and the market is not discounting a crisis. Given his long-term pessimism, Cooperman isn't buying the stock market benchmarks.
Persons: Leon Cooperman, it's, Cooperman Organizations: Alpha, Billionaire, CNBC's Financial, Omega Family Office, U.S . Locations: New York, U.S
The Omega Man: Leon Cooperman and the Market Outlook
  + stars: | 2023-10-12 | by ( Becky Quick | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Omega Man: Leon Cooperman and the Market OutlookLegendary investor Leon Cooperman returns to FA Summit with his thoughts on current interest rates, the slowing economy, the 2024 elections and why capitalism is always good.
Persons: Leon Cooperman Organizations: Market, Summit
Treasury Secretary Janet Yellen says she's "feeling very good" about chances of a US soft landing. "I think you'd have to say we're on a path that looks exactly like that," she said, per Bloomberg. Yellen joins Paul Krugman and Larry Summers in suggesting the US will avoid a recession. "I am feeling very good about that prediction," Yellen said on her way home from the G20 summit held in New Delhi, per Bloomberg. "I think you'd have to say we're on a path that looks exactly like that," she said, referring to hopes of a soft landing.
Persons: Janet Yellen, Yellen, Paul Krugman, Larry Summers, It's, Paul Krugman —, , David Rosenberg, Leon Cooperman, Jeremy Grantham Organizations: Bloomberg, Service, Federal Reserve Locations: Wall, Silicon, New Delhi
Warren Buffett wrote to Leon Cooperman about stock buybacks, taxing the rich, and Henry Singleton. When Cooperman was mulling a presidential run, Buffett joked he could "deliver Nebraska" for him. Cooperman shared a trio of messages he received from Buffett in his newly published memoir. Buffett wrote him a note after reading the letter, which Cooperman still keeps framed in his office:Dear Lee,I always enjoy both the quality of your writing and the quality of your thinking. Buffett wrote to Cooperman after his speech to express his agreement:AdvertisementAdvertisementHenry was a manager that all investors, CEOs, would be CEOs, and MBA students should study.
Persons: Warren Buffett, Leon Cooperman, Henry Singleton, Cooperman, Buffett, Goldman Sachs, trumpeted, Dear Lee, Warren, Singleton, Henry, Lee, you've Organizations: Service, Teledyne, Cooperman, Wall, Finance, Philanthropy, Omega Advisors, Business, Loews, Berkshire Locations: Nebraska, Wall, Silicon, Bronx, Iraq, Afghanistan
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The donations were meant 'to weed out anti crypto dems for pro crypto dems and anti crypto repubs for pro crypto repubs," Salame said in a private message, according to a court document. It's the first time a Chinese president has missed the summit, a sign of how geopolitics have shifted. But Leon Cooperman, the chair and CEO of the Omega Family Office, told CNBC he doesn't think markets will hit a new high for a long time.
Persons: Goldman Sachs, David Solomon, CNBC's David Faber, Instacart, Goldman, Solomon, FTX's Salame, Ryan Salame, Salame, Joe Biden, Xi Jinping, Vladimir Putin, Leon Cooperman Organizations: CNBC, Nasdaq, ifo Institute, Alameda Research, Omega Locations: Germany, Alameda, India
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBillionaire investor Leon Cooperman: Interest rates aren't too highLeon Cooperman, Omega Family Office chairman and CEO, joins 'Squawk Box' to discuss the S&P's performance in the last year, his thoughts on an upcoming recession, and how the major averages perform in the year's second half.
Persons: Leon Cooperman Organizations: Billionaire, Omega Family
An example of a company in Cooperman's portfolio that is benefiting from higher oil prices is Paramount Resources , which primarily trades in Canada. Omega also owns stock in several U.S. energy companies, including Energy Transfer . The stock has outperformed the energy sector year to date and has a dividend yield of 9.2%. ET YTD mountain Energy Transfer has outperformed the energy sector this year. The stock has fallen about 8.5% this year but sports a dividend yield above 5%.
Persons: Leon Cooperman, Cooperman, Goldman Sachs Organizations: Omega Family, Texas, Omega, Paramount Resources, Energy, DTE Energy, Microsoft, Apollo, Citigroup, Cigna, Fidelis Insurance Locations: U.S, Canada
Billionaire investor Leon Cooperman said Thursday the stock market could be stagnant for an extended period of time, adding that he's standing by his recession call. "I don't expect we see a new high in the market for a long time," Cooperman said on CNBC's "Squawk Box." "I think we're going to wind up with a recession, but it's not here, not now," Cooperman said. The S & P 500 has rallied more than 16% this year, powered by Big Tech and stocks tied to artificial intelligence. "I think the strength of the market was very much tied to positioning.
Persons: Leon Cooperman, Cooperman, We've, it's Organizations: Omega, Big Tech Locations: U.S
There's no indication that interest rates are too high, Leon Cooperman told CNBC. The billionaire investor also sees a return to this year's stock market highs as unlikely. "What's the sign that interest rates are too high?" "I don't expect we will see a new high in the market for a long time. "In 2000, everybody was hot on the internet: Cisco, Cisco, Cisco.
Persons: Leon Cooperman, Cooperman, We've Organizations: CNBC, Service, Omega Advisors, Federal Reserve, Nvidia, Cisco Locations: Wall, Silicon, Georgia
Langone contributed $4,600 to Giuliani's 2008 campaign for president, according to FEC records. This executive donated $2,300 to Giuliani's 2008 run for president, according to FEC records. Goodman did not say who is contributing to help Giuliani pay for his legal fees or how much those entities have raised. "I probably will," said Catsimatidis, who owns New York radio station WABC that employs Rudy Giuliani and his son. "I think people should help Rudy Giuliani.
Persons: Rudy Giuliani, Donald Trump, Giuliani, Rudy, I'm, Brian France, Ken Langone, Forbes, Langone, Cooperman, It's, Leon Cooperman, Trump, he's, Ted Goodman, Goodman, Joe Biden swiped, Andrew Giuliani, John Catsimatidis, Catsimatidis Organizations: New York City, NASCAR, New, FEC, Trump, Billionaire, Commission, CNBC, titans, Former New York City, Wall Street, Washington D.C, Giuliani, Twitter, Giuliani Defense, New York, WABC, New York Republican Locations: Georgia, Washington , U.S, France, New York, New York City, Russian, York City, Bedminster , New Jersey
From stocks to commercial real estate, several parts of financial markets are on shaky ground. Here are the 10 wildest predictions about asset prices and the economy over the past quarter. Grantham said the prices of stocks, bonds, real estate, fine art, and other investments surged to unsustainable highs during the COVID-19 pandemic. Crypto: an 'apocalypse' is coming for digital assets"Dr. Doom" economist Nouriel Roubini isn't hopeful about the crypto industry. "I think it will spread into commercial real estate as banks become more reluctant to lend," Cooperman said.
Leon Cooperman on the government response to the banking crisis
  + stars: | 2023-04-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLeon Cooperman on the government response to the banking crisisLeon Cooperman, Omega Family Office chairman and CEO, joins 'Squawk Box' to discuss his thoughts on the market, whether there's contagion risk from the banking crisis, and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Omega Family Office CEO Leon CoopermanLeon Cooperman, Omega Family Office chairman and CEO, joins 'Squawk Box' to discuss his thoughts on the market, whether there's contagion risk from the banking crisis, and more.
Leon Cooperman says the commercial real estate sector will be the next market hit by bank turmoil. In an interview with CNBC, the billionaire investor said institutions are pulling back on lending and commercial real estate commitments as a way to shore up liquidity. "I think it will spread into commercial real estate as banks become more reluctant to lend," Cooperman said Monday. The commercial real estate market is operating in a perfect storm of rising interest rates, declining occupancy rates for offices, and now, less access to credit. This could impact smaller and medium-sized banks with higher commercial real estate exposure.
Leon Cooperman said Monday oil prices are headed higher on the back of a demand comeback, boosting his energy stock picks. He said he has 20% of his portfolio in energy stocks. The widely followed investor said his two favorite stocks in the sector are Canadian oil and gas producers Paramount Resources and Tourmaline Oil . "It's growing production at 15%," Cooperman said on Tourmaline Oil. Paramount Resources shares are up more than 3% this year, while Tourmaline Oil saw its stock fall more than 17%.
Wall Street experts see a new era ahead for markets, marked by a more difficult investing environment. Central bankers have already raised interest rates over 1,700% over the last year to quell high prices. Despite the volatility in bank stocks, Fed officials raised interest rates another 25 basis-points this week, bringing the effective Fed funds rate to 4.75-5%. That's the highest interest rates have been since 2007, and the impact of SVB's collapse is likely equivalent to another 50-75 basis points in rate hikes, Moody's chief economist Mark Zandi estimated, meaning real interest rates are even more restrictive. Some experts have argued that SVB's collapse was due to the bank's uniquely high exposure to bonds, which have been weighed down heavily by rising interest rates.
The program collaborates with UPenn's Wharton business school, and it teaches college women the fundamentals of markets, portfolio management, and finance. Katherine Jollon Colsher, President and CEO, Girls Who Invest Girls Who InvestKatherine Jollon Colsher is the chief executive officer and president of Girls Who Invest, a nonprofit that aims to help women enter asset management and other careers across Wall Street. Katherine Jollon Colsher: We work exclusively in the buy side, and we do focus exclusively on placing women in internships and frontline investing roles to advance more women portfolio managers. With that, our vision is for 30% of the world's investable capital to be managed by women by 2030. Shares of the German bank tumbled on Friday, as the cost of credit default swaps linked to its bonds shot higher.
In November, one of the world's most consequential hedge funds announced a shake-up at the top of its power structure. In an internal memo, the founder of Millennium Management, Izzy Englander, said that Bobby Jain would be vacating the co-CIO role. "You can't readily find that managerial experience at other hedge funds and Goldman is a perfect place to look for those people." 8 former Goldman Sachs leaders are now Millennium execsEnglander isn't alone — firms rarely are in the copycat world of multistrats. In a statement to Insider, Abbey Collins, a spokesperson for Goldman Sachs, said, "Goldman Sachs has always been and remains a talent magnet.
The US is going through a "textbook" financial crisis, according to billionaire Leon Cooperman. That means poor returns for stocks, he added, warning the S&P 500 wouldn't hit a high again for a long time. Cooperman has warned markets of an coming recession, and said stocks could plunge 20% this year. "It's kind of like textbook," Cooperman said. Those conditions also mean tepid returns for stocks, Cooperman said.
Cooperman says he voted for Biden in 2020, but he accused Democrats of deliberately misleading people about how the billionaire tax proposal would work. The billionaire tax proposal is "completely dead on arrival," said Charles Myers, a 2020 bundler for Biden's presidential campaign and the chairman of Signum Global, an investment advisory firm. Myers said the purpose of Biden's billionaire tax announcement, however, was never to jumpstart a negotiation in Congress. But for some in the party, Biden's billionaire tax contains a fatal flaw. With plans for a billionaire tax stalled in Washington, wealth tax advocates and activists are turning to the states.
US stocks jumped Friday after December payrolls and services-sector data. The economic data showed signs of easing inflation, bolstering hopes the Fed will cut interest rates this year. The S&P 500 avoided a fifth consecutive weekly decline. Meanwhile, the Institute for Supply Management's services-sector report showed prices paid decelerated while services activity shrank for the first time since May 2020. Billionaire investor Leon Cooperman sees just a 5% chance the S&P 500 pares back the losses it's logged since March 2022.
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