% | $
Quotes you view appear here for quick access.

Resource Capital Corp. Message Board

  • lunco lunco Feb 5, 2013 8:51 PM Flag

    Seeking Alpha Article

    Interesting article on Leon Cooperman's high dividend investments. Leon Cooperman has been a long-time investor in RSO and it is not at all uncommon for him to participate with a question or two (generally concerning the dividend) on a CC.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • mysonchino Feb 6, 2013 6:15 AM Flag

      Lucco thanks for the catch. Those SA articles are the best by far for getting great investment advice.

      Leon Cooperman is a former Goldman Sachs guy who started his own funds and advisory business. He is a fairly well-known deep value investor. He is a billionaire from his own investing and manages several billion OPM. Some of the money he controls is his own. Some is in segregated client-specific accounts. If you listen to any of the RSO conference calls, you will hear Mr. Cooperman asking management some good questions.

      He shows up on the SEC forms as a 10% owner - he is not an insider. Mr. Cooperman’s investment firm Omega Advisors owes more than 10%. That requires him to file like an insider. As investment manager for Omega Advisors who, as a fiduciary for his investment funds, happens to be responsible for more than 10% ownership of RSO. SEC rules cause Mr. Cooperman to be classified as an "affiliate" because of his control 10% of the shares, despite the fact that these shares are indirectly beneficially owned by the various shareholders/fund investors at Omega.

      I don't see an recent sales my Mr. Cooperman. All I see is Mr. Cooperman either reinvesting some of his dividends or else buying some new shares for cash. Seems very bullish to me.

      I reccomend you google for Leon Cooperman to get a feel for his record.
      Cooperman, by all accounts a fine gentleman, has made some horrific bad calls, predicting the bottom might be in December of 2007 . . . and in August 2007 (a tragically amusing article in Forbes). In the REIT space he recommended KFN at $15, and CRZ at $16.

      I don't mean to beat up on the man (he had company after all), but it occurs to me Omega may have to start selling if there are redemption problems Q4, they owned 457K shares. Even more interesting are the unidentified "managed accounts" and "investment limited partnerships", which own over 2.4 million shares, roughly 10%. I wonder what the redemption policy is on those? Perhaps his investors are not very happy with him? Watch those Form 4's!

12.65+0.41(+3.35%)2:26 PMEST