The “Squawk Box” crew and Lee Cooperman, Omega Advisors chairman & CEO, discuss the broken deal between Time Warner and 21st Century Fox.
Also see – Don’t confuse bull market with brains: Cooperman
WED 16 JUL 14 | 07:41 AM ET
Leon Cooperman, Omega Advisors chairman & CEO, shares his winning investment strategy. The market is finally in a zone of fair and reasonable valuations, says Cooperman.
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Leon Cooperman, Omega Advisors chairman & CEO, reveals how he is playing the stocks in his portfolio now, and shares his winning investment strategy.
let’s take another look at the stock chart again. okay. so it’s up more than 12%. we don’t have it. we can generally cat. figure out $9 afternoon the outstanding. is that a date? is there is possibility about another bond? would somebody else jump in. somebody who has unlimited pockets and say we want to do this. it’s interesting. from those shareholders. if you bring out synergys and you have to admit. you have to think, there will be pressure to do some type of transaction. what percentage of run rupert murdock thinks they reowe politically, when he bought the journal, people that don’t want to agree, they write it off to rupert murdock. that’s what cnn was thinking. that might move them somewhere close to down the middle. i don’t know about that part. we’ll see. i do think by coming to the table up front saying we will di vest cnn. i think that will at least make it more palatable from a regulatory perspective. i don’t know if anyone makes their final best offer. the conversation is just beginning. the best way to sell yourself is say you have interest. right? so how different is the company as it stands right now from getting back to the — what was time warner? there were a couple other pieces back then it was valued at what? do you remember? oh, geeze, that’s a great question. because it was 100. it was like aol is inflated beyond belief. the destruction at shareholder value, the greatest destruction at all in the history of a shareholder value. it’s a different time warner now. totally different. completely different. warner brothers, turner from the turner broadcasting days and aol. aol was a different business from time warner. it’s a different kind of deal. it makes a lot of sense. no question about. that it’s a business he knows and understands. he’s done a great job of the things he acquired. i would look at it differently. anybody leading a panel today, will you e-mail them that
you are a great stock picker as we have already said you will give us more today. then when i called you a great stock pecker and you said you were right. you said the market was up. with is it. all you care about the market going up overall and you are lucky with your stock picks? no, no. you do make great stock picks? i say i work harder. you can’t tell us any of the new ones yet. what were the ones you were buying the 13 and the 10 you talked about. can you give us something you will not do in your — some we still owe, i’m looking at this list, last year we said again there is no guarantee of the future. we have lawyers. we recommend thermo fisher. it went up. we own it. qualcomm, i would not put new money in qualcomm. we still own qualcomm ahead of a category phoenix and quality corps, brazilian health care provider, went up 80%. sand wedge we own and recommend to five and 6.5, 6 and three-quarters. i remember friday cfa days, which was 45 years ago that i forget the number, 50 or 60% what a stock does, the market does. entwt, 30% has to do with what the group is a part of does. some small residual percentage has to do with what the company does fundamentally. i’m not a fool. i see a reseeding tied lowers all the ships. the thing we did wright is we hung in there for 2008 and we said basically economic recession so the seas recovery, it sews the sea’s recession. we got five years of growth ahead of us. that’s exactly what’s happened. i’d say judgmentally, we see the conditions that lead. forgive me. what normally precedes exception, accelerating recession, we don’t have it. rising inventory sales ratios, we don’t have it. declineing employment, we don’t have it. rising initial jobless claims we don’t have it. all the conditions that normally lead to recession are unvisible. so now we are arguing how high is high. and, you know at the end of the day we get to euphoria most likely. things leak time warner moved