Also cutting exposure to the big banks is Leon Cooperman's Omega Advisors. By the end of Q2, the...

Also cutting exposure to the big banks is Leon Cooperman's Omega Advisors. By the end of Q2, the fund exited BAC, and slashed two-thirds of its JPM stake. Already a fan of energy, Cooperman added a stake in red-hot McMoRan Exploration (MMR). (13-F)
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Comments (3)
  • Brian Bobbitt
    , contributor
    Comments (2083) | Send Message
    Being that I still have a little BAC [but it is in the green, and covered by a tr-stop] I am reticent to say bad things about BAC. BUT... being that I want to play it straight, [NOT like the politicians and gurus who have their own axes to grind] I say our banks are in deep doo doo. I ONLY got into BAC as a q-pik (day trade) and am ONLY still in it because it keeps going up.
    Methinks that most of the general market will be correcting for a while do the downside, and with the debt bomb fuse getting shorter and shorter, I feel like the coyote hiding behind a rock, and the bomb fell behind me and I have my fingers in my ears. For all the good that will do when I get my head blown off.


    I am sticking with the PM ETF's and REITs until I start seeing storm clouds. (the election) coming. Then it will be defensive of the 1st magnitude. With the GOP having no stomach for saying truthful things about the lies of the opposition whose name shall not be spoken in anger, I am afraid for all the world. A few war lords and knights will have short but glorious moments as one usurps the other time after time, until the serfs get tired of being slaves and again make a 'new world' on some distant shore.


    That is decades away.


    Thank you;
    Mad Max


    Capt. Brian
    The Lost Navigator
    14 Aug 2012, 05:02 PM Reply Like
  • texoil
    , contributor
    Comments (4) | Send Message
    Hats of to you Capt. on a number of great points... Lets hope for the best maybe the GOP grows a stomach soon enough to save us and we dnt all end up like the coyote... happy trading
    14 Aug 2012, 11:48 PM Reply Like
  • jgrabski
    , contributor
    Comments (5) | Send Message
    Awesome Cap. Absolutely awesome!
    15 Aug 2012, 05:37 AM Reply Like
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