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Hedge fund manager Cooperman likes banking company Monitise
May 10, 2013 / 6:16 AM / 4 years ago

Hedge fund manager Cooperman likes banking company Monitise

LAS VEGAS (Reuters) - Billionaire hedge fund manager Leon Cooperman listed some of his favorite stocks on Thursday and said the biggest winner of all might be mobile banking company Monitise.

“That’s a five bagger,” Cooperman, who runs Omega Advisors, said about Monitise MONI.L at the SkyBridge Alternatives Conference on Thursday. “That’s the one I would pick to win a contest with,” he said on a panel that discussed fund manager’s best ideas.

Cooperman also said he likes Express Scripts Holding Co (ESRX.O) Qualcomm Inc (QCOM.O) Citigroup Inc (C.N), Metlife Inc (MET.N) and American International Group Inc (AIG.N). AIG recently replaced Apple as the hedge fund industry’s favorite stock, according to a report from Goldman Sachs.

Cooperman’s roughly $7 billion Omega Advisors, founded in 1991, has been one of the industry’s stand outs, delivering double digit returns last year when most managers were in the low single digits.

John Burbank, who runs $3.7 billion Passport Capital, said he likes technology companies including Yelp Inc (YELP.N) and Yahoo Inc YHOO.O

And Oscar Schafer, chairman of hedge fund Rivulet Capital and a long-time participant in the Barron’s Roundtable of top money managers, put his money on rental car company Hertz Global Holdings Inc (HTZ.N), which he said has room to trade up to $45 a share from its current $24.56 price.

Reporting By Svea Herbst-Bayliss. Editing by Andre Grenon

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