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.
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.
By Insider Monkey: Leon Cooperman has one of the older hedge funds around. He founded his Omega Advisors in 1991, after spending 25 years at Goldman Sachs. Cooperman's career at Goldman Sachs was impressive. He worked his way up the corporate ladder from conducting investment research in the company's asset management arm to becoming the general partner, chairman and CEO of Goldman Sachs Asset Management.
Insider Monkey submits:
Leon Cooperman worked at Goldman Sachs (GS) for twenty five years and he was formerly Chairman and CEO of Goldman Sachs Asset Management. Currently
Leon Cooperman is the chairman of Omega Advisors
where he is managing 6 billion dollars.