Leon G. Cooperman and the American Dream

Published on
September 29th, 2020
Duration
52 minutes

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Leon G. Cooperman and the American Dream

The Interview ·
Featuring Leon G. Cooperman

Published on: September 29th, 2020 • Duration: 52 minutes

Legendary investor Leon G. Cooperman, chairman and CEO of Omega Family Office, Inc., joins Real Vision managing editor Ed Harrison for a conversation about his career journey from Goldman Sachs to founding his hedge fund, Omega Advisors, and later converting it into a family office. Cooperman weighs in on the lasting impact the coronavirus pandemic will have on the U.S. economy and what this means for the future of capitalism. He shares his current market philosophy from investing in FAANG stocks to calling out the rise of retail investors and the "Robinhood market," and he opens up about diversifying his portfolio, his best trade tips, and what's ahead for the markets as the 2020 election nears. Filmed on September 25, 2020.

Comments

Transcript

  • ES
    Edward S.
    29 September 2020 @ 17:50
    RV is the perfect platform for an interview with Leon Cooperman. Whenever he is on CNBC he is constantly rushed and cannot complete his thoughts. Another fantastic interview by Ed.
    • RM
      Robert M.
      29 September 2020 @ 23:47
      Ed always does a great job interviewing. Gets the big hitters that Grant use to interview.
    • CJ
      Chris J.
      26 October 2020 @ 01:49
      Agreed. This interview could have easily been another hour. Can't wait to see RV interviews like this go to the Joe Rogan length in another year. @raoulpal could call them Rum Runners or something and we all pour a tall glass neat and pop it up on the big screen.
  • ME
    Mina E.
    3 October 2020 @ 00:26
    "Capital gains taxes inflation" - never thought of it this way...
    • CJ
      Chris J.
      26 October 2020 @ 01:45
      Yeah that was a great insight
  • CJ
    Chris J.
    26 October 2020 @ 01:43
    Wisdom from pattern recognition, experience, common sense and reason. A gem of an interview in my humble opinion.
  • PE
    Paul E.
    23 October 2020 @ 18:53
    This interview is special! Much appreciated!
  • LA
    Linda A.
    22 October 2020 @ 18:55
    Ha Ha, "wrote in Mitt Romney" Mr. Cooperman, u are one smart cat - that's a compliment.
  • VS
    Victor S. | Contributor
    2 October 2020 @ 18:07
    Lee nice to see you . My view on Biden is he is 100% a puppet and controlled ... trump has many faults but he loves capitalism and the working man. My best
    • DS
      David S.
      6 October 2020 @ 16:38
      I believe President Trump loves President Trump. DLS
    • pt
      popejumpingjohnpaul t.
      19 October 2020 @ 19:45
      trump loves lying, fraud and sexually assaulting women
  • JG
    Jave G.
    15 October 2020 @ 05:25
    I love this guy! It's like taking a mental shower after too much time on Twitter. "She's a communist. I don't say it as an insult, it's her political views."
  • JH
    Joseph H.
    14 October 2020 @ 16:03
    Great interview, thank you Leon and Ed
  • PB
    PHILLIP B.
    13 October 2020 @ 21:48
    I really appreciated this interview. I'm from Long Island and appreciate the style of discourse that Mr Cooperman uses. It reminded me of the grown ups when I was a kid living in the NY metro, and this reminder is a good thing! The frank talk and how it is. Doesn't matter if one agrees or disagrees. You know what Mr. Cooperman's position is. Fantastic. Always appreciate a Mr. Cooperman interview. Thank you!
  • TE
    Tom E.
    3 October 2020 @ 11:14
    Need more interviews like this. People who can give a long term perspective that isn’t caught up in the 24 hour trading cycle. Loved many of his common sense messages and his humility about having had to work hard for his success but also be lucky. Thanks RV.
    • JL
      John L.
      12 October 2020 @ 23:11
      Very well said, Tom E.
  • EB
    Evan B.
    9 October 2020 @ 05:28
    Edward is at the peak of his game here. Kudos. Makes for a very fine interview-- lively, combustible, and still very respectful. Best to both of you!
  • SS
    Stefano S.
    8 October 2020 @ 07:29
    One of the best person I heard. Invite him again soon.
  • WT
    WILLIAM T.
    5 October 2020 @ 09:00
    Excellent guest and interviewer! I have one suggestion for wealthy folks like Cooperman who are strong advocates of capitalism. Be very careful that your wealth does not directly or indirectly (through ignorant heirs) fall into the hands of left-wing ideologues. Far too often this seems to be the case which should make the benefactors turn over in their graves. I've never been able to understand why George Soros is funding communist organizations (e.g. BLM, Antifa, etc) when he made his wealth from capitalism.
  • RZ
    Richard Z.
    4 October 2020 @ 06:22
    Fantastic interview!
  • JP
    John P.
    3 October 2020 @ 06:36
    Navient looks pretty attractive at the current price. Perhaps the market is anticipating student loan jubilee and government funded education?
  • MD
    Mark D.
    3 October 2020 @ 05:45
    How amazing to hear Him start the interview as a 77 year the things he wants to improve and work on! 🙌🏼🙌🏼
  • BF
    Bill F.
    2 October 2020 @ 19:12
    lee was terrific, as he usually is...
  • JW
    James W.
    2 October 2020 @ 04:26
    What a great interview.
  • NP
    Nick P.
    30 September 2020 @ 05:07
    Hmm, how did you allow him to get away with saying Tesla is either a growth play (group 1) or a Robinhood pumped stock (group 2). Which one is it? Can't sit on the fence, Ed. Why didn't you follow up and hold Leon accountable? Furthermore, when somebody says I've got Microsoft, Facebook, Amazon in my portfolio, cool, BUT, when did you buy them?
    • WF
      Will F.
      30 September 2020 @ 08:25
      Group 2 I would think, but there are somewho are in love with it too
    • YB
      Yair B.
      2 October 2020 @ 00:56
      Tesla is in group 4 - fraud.
  • sc
    sung c.
    30 September 2020 @ 03:43
    I loved Mr. Cooperman's editorial on the "American Politics" section, except I don't hold out hope for Biden to convince me of anything after serving 48 years as an inept politician.
    • B
      Bob .
      1 October 2020 @ 23:16
      Every election comes down to a relative choice, and if you wish to not vote then you have an additional choice as well. I do agree with Leon that it would nice to have a better set of choices, but that ship has already sailed. Great interview and I would enjoy seeing him come back in 6 months. Ed, as always, was well prepared and did a great job. Thanks.
  • JA
    Jeff A.
    1 October 2020 @ 21:22
    I don’t think who he is voting for is any of our business.
  • CZ
    Carlos Z.
    29 September 2020 @ 21:43
    Great interview. This is why I subscribe to RV
    • JF
      Jack F. | Real Vision
      1 October 2020 @ 14:38
      Glad to hear that, Carlos!
  • RM
    Robert M.
    30 September 2020 @ 00:08
    Not sure the transcripts captured the stock recommendations properly. So here they are: Mr. Cooper (COOP) AMC TV (AMCX) Energy Transfer (ET) FiServ (FISV) Ashland (ASH) Navient (NAVI) Athene (ATH) Not sure about Pharaoh. Could be Faro Technologies or Pharos Energy. Another subscriber may know.
    • CM
      Cory M.
      30 September 2020 @ 22:38
      Thanks, Robert ! Navigant is my student loan servicer. May be it’s them.
  • RM
    Robert M.
    30 September 2020 @ 21:08
    Based on his comments, would love to hear Cooperman's thoughts on the debate last night.
    • CM
      Cory M.
      30 September 2020 @ 22:36
      I would too, Robert. Seems like in the few bursts where he was able to he speak out, he addressed Lee’s questions. I wonder what Lee would say about Biden’s “comportment.”
  • DG
    Dave G.
    29 September 2020 @ 21:47
    Lol he says his portfolio is 10, 11 x earnings but he holds large positions in Microsoft 36 p/e, Google 32 p/e and Amazon 122 p/e. Does anyone else see the math problem here? And he still says their cheap. Really? Well he did say he is happy, no doubt.
    • HB
      Herman B.
      29 September 2020 @ 23:56
      Hi Dave, I'm thinking, it has to do with his entry price points. If he has been holding these positions for 5 years or more, the math would then make sense. He is a value investor (Buy & Hold) so.... IMHO.
    • DG
      Dave G.
      30 September 2020 @ 14:39
      Ya your probably right.
  • MD
    Matt D.
    30 September 2020 @ 05:12
    "What is this, like penis envy?" Ha. Fired up then. Good interview Ed!
  • IM
    Ian M.
    30 September 2020 @ 03:44
    Awesome interview!
  • NN
    Nicolaas N.
    29 September 2020 @ 19:45
    I strongly disagree with working for the government for 6 months to fund those idiots. The financial disasters are created by governments. Governments should get out of the economy and allow entrepreneurs to operate in a free market.
    • DS
      David S.
      30 September 2020 @ 03:09
      I do not think I will be in his tax bracket. DLS
  • SC
    Sejong C.
    30 September 2020 @ 03:04
    Why the sudden rushed end?
  • MC
    Max C.
    30 September 2020 @ 01:31
    “It’s my mom she’s 92!”
  • MC
    Mark C.
    30 September 2020 @ 00:38
    Great interview.
  • SP
    Simon P.
    30 September 2020 @ 00:33
    WoW! I realy enjoy interview with smart legend. This is why I pay for thé service.
  • VB
    Vincent B.
    30 September 2020 @ 00:11
    Tough interview to lead - masterfully done by Ed!
  • GB
    Griffin B.
    29 September 2020 @ 23:52
    Good interview, but once he started talking politics it went down hill
    • RM
      Robert M.
      30 September 2020 @ 00:10
      Appreciated the politics. Appreciate hearing a fellow republican lament about the current dysfunction.
  • HB
    Herman B.
    30 September 2020 @ 00:06
    ED, thank you once again. Great to be reminded of the fundamentals of things. Funny how simple the entire interview sounds, yet powerfully packed with serious winning lessons.
  • DB
    David B.
    29 September 2020 @ 21:26
    I think Mr. Cooperman's thermostat is my favorite part of the video.
    • RM
      Robert M.
      29 September 2020 @ 23:45
      Old School! No Nest on his wall.
  • BS
    Bevyn S.
    29 September 2020 @ 23:32
    Get off my lawn you damn socialists!
  • RI
    R I.
    29 September 2020 @ 22:59
    He almost brought me to tears too when he got choked up discussing presidential politics. It was inspiring. I can only hope the partisanship/disrespect will give way to a new wave of centrism/cooperation, while maintaining democracy/capitalism.
  • MO
    Mark O.
    29 September 2020 @ 22:55
    Nice one Ed - really enjoyed it
  • SM
    Shawn M.
    29 September 2020 @ 14:18
    Ed, I wish you would have covered his fight with the SEC. Would be great to hear him on this platform, seems to be comfortable. PENIS ENVY.😂 Never going to hear him say that on CNBC. Great job.
    • ML
      Michele L.
      29 September 2020 @ 22:29
      i recall he addressed it a bit in his dec 2018 interview with grant williams. not sure he'd be any more forthcoming now than he was then.
  • TP
    Timothy P.
    29 September 2020 @ 16:23
    Mr Cooperman is right. You get rich through your own efforts, largely. Yes, there are inheritances and such, but the majority of wealth is created. A lot of these super-rich give their wealth away. George Lucas gave away the proceeds from his Star Wars IP sale to schools -- the amount was close to the GDP of small countries, for crying out loud. That is why I don't get the envy either - it should inspire someone, not make them turn to petty jealousy. If you end up being bitter and jealous, you are just shortchanging your own future in the process.
    • LF
      Liam F.
      29 September 2020 @ 22:15
      I posit that it's not envy, it's hatred... As a general rule, the uber-wealthy have effected monopoly and rentier practices of wealth extraction from the state. And whose money powers the state? Not the uber-wealthy for sure. No, it's the lower and middle classes who pay the lion's share of the bills and get shafted after the markets crash and the elite are made whole yet again. The uber-wealthy have government puppets sponsor legislation that allows massive tax loopholes and write offs. We are seeing the tip of this iceberg just now, writ large, with DJ Trumpet's tax shenanigans. Not sure why Coop had to resort to potty talk to describe this. One of the few, well-reasoned moments in a great talk.
  • TK
    Thomas K.
    29 September 2020 @ 21:40
    brilliant interview... loved Mr Cooperman
  • FK
    Fred K.
    29 September 2020 @ 21:21
    the quality of these interviews is just astounding. Great job.
  • GH
    Guy H.
    29 September 2020 @ 21:14
    Good interview Ed - a thoughtful, sane investment philosophy. Accompanied by a fair chunk of privilege. Yes - fully earned but partly from standing on both public and private sector shoulders. Warren is one side of the political divide but Cooperman is on the other and it takes two to tango. I took away a ton of solid investing advice from a wonderfully experienced guy, but few ideas on how he might help reduce polarisation in America.
  • SS
    Shanthi S.
    29 September 2020 @ 10:01
    Enormous respect for the great market wisdom, entertaining backstory and impressive accomplishments, but the glaring philosophical inconsistencies triggered my bruxism big time! I need to go binge on some Rothbard for the sake of my temporomandibular joints.
    • CM
      Chris M.
      29 September 2020 @ 13:31
      lol. underrated comment. perfect summary of this interview.
    • DS
      David S.
      29 September 2020 @ 20:04
      Maybe a dental guard or tolerance of other people's views would be helpful. Mr. Harrison interview of Mr. Cooperman gave us a whole person. I look forward to the next interview of Mr. Cooperman. DLS
  • DS
    David S.
    29 September 2020 @ 19:53
    Most enjoyable interview. Thanks to Mr. Cooperman and Mr. Harrison. It is important to be reminded of the American Dream and a person who made it happen. DLS
  • SS
    Simeon S.
    29 September 2020 @ 19:52
    “You have a good name, we wanna raise you a SPAC” 😆... not even a whitepaper nedeed
  • PB
    Pieter B.
    29 September 2020 @ 19:29
    I really enjoyed this! Thank you.
  • SS
    Stephen S.
    29 September 2020 @ 14:47
    It’s interesting to listen to these guys and picture how things were when they started out. College was worth it, Student loans could be repaid, Wall Street was a innovating and thriving industry. It also gives a snapshot into how these institutions perhaps started well but have become corrupted as of now.
  • BK
    Binyam K.
    29 September 2020 @ 13:44
    Thanks Ed!
  • AD
    Antonio D.
    29 September 2020 @ 13:43
    I really enjoy hearing the white-haired wisdom of these investors that have been through many market cycles. He was rational in holding back his response to the "who would you vote for" question. Also, entertaining in it's own way to hear him use the phrase "p#^!$ envy" in regards to the wealthy like Bezos and Gates.
  • DO
    DIOGO O.
    29 September 2020 @ 11:24
    Will we have the transcript?? Excellent interview! Awesome experience sharing ideas from Mr Cooperman
  • HR
    Humberto R.
    29 September 2020 @ 10:40
    Great interview!
  • HK
    H K.
    29 September 2020 @ 10:26
    Great points he made. And enormous respect for the way he sees things. The personal anguish and disgust with the current state of affairs in markets and public office are palpable.
  • FL
    Fabrizio L.
    29 September 2020 @ 10:13
    Thanks Ed, really interesting!