‘Capitalists with Heart’: Leon Cooperman’s Vision for the Future 9/7/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 7 September 2023

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Investing legend Leon Cooperman is out with a new book, “From the Bronx to Wall Street: My Fifty Years in Finance and Philanthropy.” The Omega Family Office CEO and Chairman discusses his current holdings, his outlook on inflation and recession, and why he’s a lifelong–and sentimental–capitalist. Apple shares were under some pressure after a report that China restricted iPhone use for government officials. Warner Brothers Discovery CEO David Zaslav spoke on the streaming landscape and Hollywood strikes at a Goldman Sachs conference. Plus, CNBC’s Personal Finance Correspondent Sharon Epperson says, many Americans are financially stressed. She details results from CNBC’s Your Money Survey and explains retirement saving plans and why so many workers are caught between the many ‘shoulds’ of personal finance. Leon Cooperman 11:40 Sharon Epperson 31:04 In this episode: Sharon Epperson, @sharon_epperson Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squawk Pod and I'm C and Vee producer Cameron Costa.
0:08.0	On today's episode, Investing Billionaire, Legendary Hedgefunder, and author of a new book,
0:15.0	its Omega Family Office Chairman Leon Cooperman.
0:19.0	I think we're going to wind up with a recession, but it's not here, it's not now.
0:22.0	I think the recession will be caused by either QT. recession, but it's not here, not now.
0:22.7	I think the recession will be caused by either QT or the Fed
0:25.8	or the price of oil or the dollar.
0:28.1	Where he's putting his money now
0:30.3	and how he's built his legacy as a lifelong capitalist.
0:35.0	Made a lot of money and I'm giving it all back.
0:37.0	I'm concerned about the lefties and they don't get it.
0:40.0	I have three terrific grandchildren and I want them to understand the merits of capitalists and I want them to be capitalist with a heart.
0:46.0	Other stories that got us going today, Apple, AI, and restrictions in China.
0:52.0	You can't mention X, Y, Z, ABC. and Warner Brothers Discovery CEO David Zaslav considers making an old streamer strategy new again.
1:03.7	Could it be the rebirth of bundles?
1:06.5	Remember those?
1:07.5	Kind of like cable.
1:08.5	Plus managing financial stress.
1:10.8	C.N. B. C. N. C. N. C. N. C. N. C.S. Sharon Epperson on the do's and don't of financial planning.
1:15.9	The majority of survey respondents, 56% admit that they are not on track with their yearly
1:21.4	401ks savings in order to retire comfortably.
	...

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