For Leon Cooperman, a long fall from dizzying heights

September 21, 2016 3:50 PM

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For Leon Cooperman, a long fall from dizzying heights

Cooperman's record has other blemishes as well. In 2008, Omega lost 35.2 percent net of fees. It was by far the largest loss in the firm's history and worse than most hedge funds during the peak year of the financial crisis (the AR U.S. Equity Index fell 13.98 percent).

Lehman Brothers, one of the nation's largest investment banks, filed for bankruptcy in September 2008, precipitating the financial crisis that drove the U.S. economy into a deep recession.

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