Leon Cooperman’s Omega Advisors Gets Battered In 2014

Leon Cooperman’s Omega Advisors had a rough year, losing 4.2% in the fourth quarter and losing 2.8% for the full year while the S&P 500 was up more than 13%, but even that overstates the performance for most of their investors because it was calculated for general partners who don’t pay a management fee, while investors pay either a 1% or 1.5% management fee depending on when they started investing (no one is paying performance based fees this year). The problem is that, like plenty other hedge funds, Omega didn’t have any big winners but they suffered serious losses when…