Cooperman discloses 6% stake in NRZ


New Residential (NRZ +0.3%) quickly eliminates a loss on the session and turns higher as Lee Cooperman discloses a 6% stake in the Newcastle Investment (NCT +1.2%) spinoff.

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Comments (4)
  • Donald Marchiony, Westpark ...
    , contributor
    Comments (114) | Send Message
     
    Great hedge against rising interest rates
    10 Feb 2014, 03:21 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (7076) | Send Message
     
    Who is Lee Cooperman? It would be nice if they put a little info who he is. But anyway, long (NRZ) and (NCT).
    10 Feb 2014, 03:40 PM Reply Like
  • hanakookie
    , contributor
    Comments (804) | Send Message
     
    I think he saw the 300 to 400 bps spread between similar companies. He'll on a yield risk basis NRZ is perceived more than all new incoming MSR REITS. Nice to see a whale in the picture now.
    10 Feb 2014, 04:45 PM Reply Like
  • cubbzx
    , contributor
    Comment (1) | Send Message
     
    He is the Chairman and CEO of Omega Advisors, Inc.
    10 Feb 2014, 08:48 PM Reply Like
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