![]() Some of them are cheering on this revolution. Cooperman paid the SEC $5 million and never admitted guilt.Īnd let’s be clear, these retail investors don’t necessarily despise billionaires. And he handled it in the most ‘billionaire’ way possible. In 2017, the SEC lobbied insider trading charges against him. It’s likely a combination of both.īut these market disrupters definitely had people like Leon Cooperman in mind when they started the chaos.Ĭooperman has been a poster child for the ‘greedy, unlikable rich guy’ archetype for years.īernie Sanders even featured him in a video mocking whiny billionaires:Īs you already know, Leon Cooperman was not a fan of people getting their ‘fair share.’ In fact, he might not even be a fan of getting his own share in a fair way. It’s unclear if the main motivation was to put power back in the hands of the people or to play a twisted joke on the rich. The stock surges delivered by users from Reddit’s WallStreetBets, Discord, 4chan, and other social media platforms has been nothing if not effective. Reddit & WallStreetBets Were Targeting People Like Cooperman The ethics and the delivery of this market action are up for debate, but let’s not start feeling sorry for people like Leon Cooperman. Many of these firms were short stocks like Gamestop (GME) and AMC, and they were definitely feeling the squeeze. Point72 Asset Management is down about 10%.īut other firms have been hit even harder.Īccording to sources from The WSJ, Maplelane, which kicked off 2021 with about $3.5 billion, is down nearly a whopping 45%. D1 Capital Partners is down roughly 20% for the year. He said it’s “a way of attacking wealthy people.” Cooperman said the recent surges in stocks like Gamestop and AMC are “inappropriate” before claiming we all need to work together.Īnd to be fair, many wealthy men like him are definitely feeling the squeeze.Īccording to The Wall Street Journal, a handful of major hedge funds are reeling. Some of his highlights include calling “fair share” a “bulls%$t concept.” And it’s mainly because of his unforgettable sound bytes from his recent CNBC appearance. Leon Cooperman Has a Mini-Meltdown On CNBC His appearance on CNBC today is rife with hypocrisy, and it seems Leon Cooperman does not like the taste of his own medicine. And he hasn’t always done it with integrity. The Omega Family Office CEO has been raking in money by the truckload since he founded his hedge fund in 1991. Reddit’s WallStreetBets appears to be stressing out billionaire Leon Cooperman. Wealth manager Leon Cooperman appeared on CNBC to give his take, and he was not happy, proving that these financial anarchists are getting to him.Billion-dollar hedge funds that shorted these stocks are hemorrhaging money.Stocks like Gamestop and AMC have soared in recent days due to a unified effort from retail investors from places like Reddit and 4chan. ![]()
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