Leon Cooperman was on CNBC today. He is extremely bullish about the stock market. He said more than half of S&P 500 companies have higher dividend yields than the 10-year treasury bonds. Cooperman is currently investing in Master Limited Partnerships (MLPs).
“We have a lot of the MLPs with very fat dividend yields. Linn Energy yielding close to 7%. I noticed in a recent SEC presentation they were buying back stock at $32 from the Treasury, NAV- probably in the mid-40’s. But you know, let’s face it there’s an old expression, regrettably, and it’s kind of more right than wrong: It’s bull markets who need analysts and bear markets who need stocks. The markets become very macro and people are very concerned. You really are losing the marginal buyer. The public is redeeming out at almost record levels. Corporations are very strange; they’re emphasizing fixed income in their pension plans, for whatever reason, but they’re buying back a ton of stock- and that’s kind of inconsistent behavior. And so I think we’re just trying to find a level here, and as I said everybody is just replaying ’08 and it’s not going to be ’08.”
Cooperman’s two largest MLPs in his 13F portfolio were Atlas Pipeline Partners (APL) and Linn Energy (LINE).
We have been covering the latest 13F filings by hedge funds. Here are our most recent hedge fund 13F portfolio tracking articles:
2. David Einhorn’s Greenlight Capital
4. Roberto Mignone’s Bridger Management
5. Julian Robertson’s Tiger Management
6. Patrick McCormack’s Tiger Consumer
7. Whitney Tilson’s T2 Partners
8. Barry Rosenstein’s Jana Partners
9. Seth Klarman’s Baupost Group
10. Ray Dalio’s Bridgewater Associates
11. Charles Akre’s Akre Capital
12. Richard Perry’s Perry Capital
13. Joel Greenblatt’s Gotham Capital
14. David Abrams’ Abrams Capital Management
15. Jim Simons’ Renaissance Technologies
16. David Tepper Appaloosa Management
17. John Paulson Paulson & Co.
18. George Soros Soros Fund Management
Here are Leon Cooperman’s largest stock picks at the end of June:
