Leon Cooperman is one of the most respected names in business as he has spent roughly 54 years working in the investment sector. During this time, he has achieved numerous successes. In 1991, he founded Omega Advisors, an investment advisory firm based in New York, where he serves as the CEO and Charmain. This firm boasts of having over $3.3 billion worth of assets under its watch. Before this, Leon was working at Goldman Sachs for about 25 years. He joined this firm in 1967 after graduated with an MBA from Columbia Business School.
Cooperman’s business success has seen him amerce a $2.5 net worth, most of which is managed by Omega. Throughout 2020, when the coronavirus pandemic was at its worst, he has been leveraging his decades of investment experience to share insights on the market. He recently came out to share the top 3 stocks to invest in despite the difficult investment fuelled by the pandemic.
Alphabet Inc. is a global internet services conglomerate that owns Google and all its sister services like YouTube, Gmail, and the Play Store. Leon Cooperman has a significant chunk of his investments in this conglomerate, and he keeps adding on it regularly. He pointed out that he is putting in additional investment into Alphabet because he believes that it is one of the safest stocks in a market ravaged by the pandemic. This is because many of its services have recorded a massive increase in usage globally since the pandemic started. People have watched more YouTube over the past year than they have done before. More businesses worldwide are also signing up for Google’s business services like G-Suite and Google Cloud to optimize their remote operations. The iconic investor said that the company is likely to continue with this strong growth trajectory.
The Omega Advisors CEO has also had some of his investments in Ashland Global, a prosperous specialty chemical manufacturer. He started investing in this company in 2014 and has been with it through its ups and downs. Although many companies across multiple sectors recorded massive falls in stock prices and losses, Ashland Global managed to pull a 3.2% stock price growth. It also has enough revenue to pay its investor a 1.4% dividend on their investment. Leon Cooperman said that this company presents a good investment opportunity in 2021 after undergoing an extensive restructuring program in 2020. The new management is expected to draw in more prosperity for the company this new year.
Citigroup has been one of Leon’s favorite investments, and he recommends that you make it one of yours. This is because the company holds a lot of potential for prosperity post-COVID-19. Citigroup is one of the U.S.’s first-class international investment banks and diversified financial services providers. It boasts of having over 200 million customers and business operations in over 160 countries. By mid-March, this company’s stock had lost more than about 24% of its value. This came when the investment bank was going through a rough time after the federal funds rate started declining in late 2019. Cooperman said that Citigroup has already recovered 10% of its stock price, and it will be more successful as the year progresses.