In November 2011, billionaire hedge fund manager Leon Cooperman, the founder/CEO of Omega Advisors, sent an open letter to President Barack Obama detailing the issues he has with how the president has treated the nation's wealthiest.
Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.Leon Cooperman, Chairman & CEO of Omega Advisors, says he is very alarmed at the direction President Obama is taking the country. Click here for the open letter he wrote to Obama.
For years, when it came to Presidential candidates, Wall Street made huge compromises in order to support the Republican Party. The money men in New York City set aside their socially liberal views in order to support fiscally conservative candidates because that was the only way to get on the same page as the GOP base.
Leon Cooperman appeared on CNBC's Squawk Box, and said that buying government bonds right now is like, "playing with dynamite." Cooperman said that the risk in financial markets rests "unequivocally" with bond investors right now. Cooperman said that US government bonds have usually moved in connection with nominal GDP, which is a combination of real GDP and inflation.