According to Leon Cooperman, the stock market will be lower a year from now due to growing inflation, higher taxes, and the possibility of an interest rate hike. Although the chairman of Omega Advisors sees no imminent downside risk, he remains pessimistic about the US economy’s long-term prospects. Leon Cooperman, a 25-year Goldman Sachs employee, has diversified his stock holdings. He’s putting a lot of money into small and mid-cap lending and mortgage businesses. The billionaire investor has a net worth of $3.2 billion and a $1.6 billion portfolio. Leon Cooperman, a 25-year veteran of Goldman Sachs, has broadened his stock holdings. He’s putting a lot of money into small and mid-cap lending and mortgage firms. With a net worth of $3.2 billion and a $1.6 billion portfolio, the billionaire investor is one of the wealthiest people on the planet.
Insider Monkey digs into 10 stocks billionaire Leon Cooperman is crazy about: Since the start of the year, Energy Transfer LP has risen about 90%. Since 2017, Leon Cooperman has been a shareholder in Energy Transfer LP. Omega Advisors increased its holdings in ET by 4% to 6.73 million shares worth $51.7 million. In the first quarter of 2020, Leon Cooperman kept his investment in specialty materials business, Ferro Corporation, unchanged. Ferro’s stock has risen about 50% so far this year, owing to the economy’s recovery. According to reports, Prince International is planning to buy Ferro. Omega Advisors’ Leon Cooperman first applied for a job at Microsoft in 2015. The stock of the tech behemoth is up 13% year to date, following strong gains in previous years. Investors should expect a double-digit dividend hike from the corporation. Leon Cooperman is a huge fan of Devon Energy Corporation, an oil exploration and production firm. During the first quarter, he made a large investment in Devon Energy, purchasing 3.12 million shares worth $68.17 million, accounting for 4.25 percent of his portfolio. During the first quarter, Omega Advisors maintained its stake in Ashland Global Holdings. The firm of billionaire Leon Cooperman controlled 801,965 shares worth $71.1 million, or 4.44 percent of the whole portfolio. A drop in support from the world’s leading money managers should be noted by investors. For more details, click Billionaire Leon Cooperman is Crazy About These 10 Stocks.
