“I have nothing too negative to say about [Hillary Clinton] but basically she’s already on this stump attacking hedge funds, attacking wealthy people and she’s probably as wealthy as all the people she is attacking,” Omega Advisors Chairman Leon Cooperman said Monday during CNBC’s Fast Money Halftime Report. Cooperman added that Clinton’s attitude toward the industry is odd because the Clintons “hang around” with members of the industry, including Chelsea Clinton’s husband Marc Mezvinsky of Eaglevale Partners. “We’re to be emulated,” Cooperman said on CNBC. “Whether its David Einhorn, Michael Steinhardt, or Stan Druckenmiller, these are extraordinarily generous people giving back to society. They shouldn’t be attacked.”
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“We have now reached a turning point,” Andrew J. Hall of commodities hedge fund firm Astenbeck Capital Management LLC wrote in a letter to investors Friday, referring to the rise of U.S. oil production.
An increase in demand and stalling production have “rendered all the doomsday forecasts self-defeating,” he wrote.
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“It’s a business whose prospects have turned for the worse and there’s not much we can do about it,” Warren Buffett said of the reinsurance industry Saturday at Berkshire Hathaway’s annual meeting in Omaha, Nebraska. Buffett predicted that the industry’s next decade “will not be as good as it has been in the last 30,” even as many hedge funds are launching offshore reinsurers. Buffett called those entities, which underwrite only a minimal amount of business, a “facade.”
