Monday, December 5, 2011

Leon Cooperman bottom fishes with RIM

Ex-Goldman Sachs honcho, and current Omega Advisors hedge fund manager Leon Cooperman has taken a bullish position on RIM - Research in Motion. [RIM is down 73% YTD 2011]

Our Think Billions research department has yet to determine if old' Leon Cooperman owns a cell phone or knows how to spell smartphone or even thinks that RIM is still IN MOTION.

"RIM could rise again when it finally gets its new QNX operating system. It’s still got a hell of a user base. “We think the new operating system is constructive,” Cooperman told CNBC. “RIM has over 70 million users. … There is tremendous intellectual property and the possibility they could resurrect themselves and go on a better track. We took a speculative position.”