PBD Podcast Billionaire Investor Leon Cooperman | PBD Podcast | EP 137
Mar 24, 2022
In this insightful discussion, Leon Cooperman, a billionaire investor and hedge fund manager, shares his thoughts on the intertwining roles of luck and hard work in achieving success. He dives into the looming threat of recession, rising gas prices, and the implications of current economic policies. Cooperman also provides interesting perspectives on crypto, the geopolitical landscape with Russia and China, and critiques of political leadership as the 2024 elections approach. His insights on capitalism vs. socialism spark a compelling debate on wealth distribution and financial literacy.
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Intuition and Success
- Leon Cooperman attributes his success to luck, hard work, and intuition, recounting two pivotal moments.
- He left dental school after eight days and switched to economics, and later chose Goldman Sachs despite it being his fourth-best financial offer.
Goldman Sachs
- Cooperman joined Goldman Sachs despite lower initial pay, prioritizing the firm's culture and potential.
- This intuition proved fruitful, as he became a partner in nine years during a period of immense growth.
Missed Opportunity
- Cooperman wrote a letter praising Henry Singleton, which Warren Buffett agreed with.
- However, Cooperman missed out on investing in Berkshire Hathaway, a significant regret.