Leon Cooperman: $JPM Took ‘Prudent Risk’

Leon Cooperman: $JPM Took 'Prudent Risk'

Leon Cooperman, chief executive officer of hedge fund Omega Advisors Inc., talks about JPMorgan Chase & Co.’s $2 billion trading loss and the performance of Chief Executive Officer Jamie Dimon. Cooperman, a JPMorgan shareholder, speaks with Stephanie Ruhle on Bloomberg Television’s “Market Makers.”

Some quotes:

“We live in a very competitive economy, and banks need to take a certain amount of risk.”

“They took the risk and it was a prudent risk.”

On JPM stock, which Omega Advisors own:

“For someone with a two- or three-year time horizon, you would have a nice capital gain,”

Video embedded below: