Leon Cooperman Writes Scathing Letter to Senator Elizabeth Warren

November 1, 2019 | Hedge Funds, Investments, Latest News, News
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The letter is the latest in a battle of words between the billionaire investor and the populist candidate

Leon Cooperman sent a scathing letter to Senator Elizabeth Warren. The release comes a week after the Democratic candidate publicly criticized the hedge fund manager on Twitter.

In the letter, the CEO of Omega Advisors writes: “Our political differences aside, your tweet demonstrated a fundamental misunderstanding of who I am, what I stand for, and why I believe so many of your economic policies are misguided.”

“You proceeded to admonish me (as if a parent chiding an ungrateful child) to ‘pitch in a bit more so everyone else has a chance at the American dream,’” Cooperman wrote, according to CNBC.

Cooperman argued that Warren’s tweet “demonstrated a fundamental misunderstanding of who I am, what I stand for, and why I believe so many of your economic policy initiatives are misguided.”

Leon Cooperman and Elizabeth Warren on Wealth

In the letter, seen here, Leon Cooperman discussed his career and success. He also said that Warren failed to understand that people not born into money or married into it can “become rich by providing a product or service that others want and are willing to pay for.” Cooperman cited the success stories of Home Depot founders Ken Langone, Bernie Marcus, and Arthur Blank. He also discussed the success stories of Michael Bloomberg, Larry Page, and Sergey Brin.

Cooperman also challenged the economic studies and policies of two of her economic advisers. The lengthy letter concludes that Cooperman is an independent. He also lays out fiscal policy proposals, including his support for the Buffett Rule, the elimination of tax loopholes, and the reduction of bureaucratic bloat.  He encourages Warren to “elevate the dialogue.”

Warren responded to CNBC’s report on the letter by sending out another Tweet about Cooperman.

“Leon is wrong. I’m fighting for big changes like universal childcare, investing in public schools, and free public college,” Warren wrote. “We can do all of that with a . Leon can and should pitch in more—so that every kid has the same opportunities he did to succeed.”

Related: Elizabeth Warren: Everything is Wrong with Private Equity, Everything

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