Leon Cooperman Still Likes Boston Scientific And Apple
Omega Advisors' Chairman and CEO, Leon Cooperman, revealed his best investment ideas at the Delivering Alpha conference on Wednesday. Cooperman noted that he is bullish on equities and cited them as "the best house in the financial neighborhood." According to him, the stocks are cheap against the inflation and the interest rates.
Cooperman was not overly excited about the U.S. economy though and said it is OK, but not great. However, he pointed out that the monetary policy is on investors side. Cooperman also warned about the the U.S. Government bonds and said that they should be avoided.
Last year at the Delivering Alpha conference, one of Leon Cooperman's picks from Omega Advisors was Boston Scientific (NYSE: BSX). Unfortunately for Cooperman, BSX is down 13% since he made that call.
Yet, earlier at this year's Delivering Alpha, Cooperman told the audience that he remains long Boston Scientific.
Cooperman cited Boston Scientific's $90 million of free cash flow per month. He said if Boston Scientific was broken up, it'd be worth twice as much as it is now.
Cooperman did have success with his best idea from last year which was Apple (Nasdaq: AAPL) - that is up roughly 50%. He still thinks Apple is undervalued and continues to hold the stock.
Other stocks that Cooperman listed as his favorites at this year's Delivering Alpha include: QUALCOMM (NASDAQ: QCOM), Watson Pharmaceuticals (NYSE: WPI), The Western Union Company (NYSE: WU), Metlife (NYSE: MET), and Halliburton (NYSE: HAL).
When Leon Cooperman joined Goldman Sachs (NYSE: GS) the Dow was 850 - 15 years later it was at 850. Cooperman thinks the next several years will be volatile and investors might see similar trends to the 1960s.
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