Hedge-fund manager Leon Cooperman said the current financial crisis isn't much of surprise. He divulged some sectors and one stock that he's buying now.
That was billionaire hedge-fund manager Leon Cooperman commenting on the current banking crisis that has seen the shutdown of SVB Financial Groups’s SIVB Silicon Valley Bank and crypto-friendly lenders Signature Bank and Silvergate Bank, as well as a bankruptcy filing for SVB Financial. Additionally, over the weekend, UBS UBS CH:UBSG announced a $3.25 billion buyout of struggling rival Credit Suisse CS CH:CSGN.
Cooperman, the chair of the Omega Family Office, formerly Omega Advisors, told Bloomberg Radio on Monday that he “did have a view that we were heading to a crisis of some kind, and we’ve seen it and we’re getting a predictable response by government. It’s sad what’s going on in the country, but what they’re doing is what is necessary to preserve the system.
In Cooperman’s opinion, investors are now in a “stock picker’s environment, especially if the S&P 500 turns out to be very pedestrian.” He believes that we’ve seen the “fat years” and that now “we’re headed for seven lean years,” adding that the S&P’s all-time high near 4,800 is probably going to remain the top for quite awhile.
As for where he’s putting his money now, Cooperman said he’s got some “one-off” exposures to a couple of mortgage real-estate investment trusts that are yielding 14% to 16%, alongside with some investments in energy, which he admits have cost him this year.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
UFC 286 picks and predictions: Leon Edwards vs. Kamaru Usman in LondonUFC 286 is live from The O2 Arena in London, England, and boy, do we have a treat.
Baca lebih lajut »
UFC 286: Leon Edwards proves title win is no fluke in decision victory over Kamaru UsmanAnyone who thought Leon Edwards' victory over Kamaru Usman in a welterweight title fight in August was a fluke needs to think again.
Baca lebih lajut »
UFC 286: Leon Edwards retains title by majority decision against Kamaru UsmanThe 31-year-old Edwards’ greater speed unsettled Usman, but the challenger took Edwards down briefly in round two before both fighters traded some heavy blows.
Baca lebih lajut »
Leon Edwards retains UFC welterweight title with win over Kamaru UsmanLeon Edwards retained his welterweight title Saturday in London, beating challenger Kamaru Usman at UFC 286 by majority decision.
Baca lebih lajut »
Leon Edwards erases doubts in masterful UFC 286 title defenseSome of Leon Edwards’ first words after he usurped the welterweight crown last August morphed into half-speech, half-bellow. “Look at me now!” he said that night in Salt Lake City. Great as his com…
Baca lebih lajut »
Leon Edwards takes his game to the next level with impressive win over Kamaru UsmanOn the night in 2019 when he scored an impressive victory over Gunnar Nelson, a fighter whose style was all wrong for him, Leon Edwards' moment was stolen when Jorge Masvidal walked away from an interview and hit Edwards with a combination that he dubbed 'a three-piece and a soda.'
Baca lebih lajut »