Amid Stretched Valuations, Leon Cooperman Ups Cash Load

With Black Monday in view, Leon Cooperman and Steven Einhorn look at the stock market and shake their heads. In an October letter to investors reviewed by ValueWalk, they look at a 10.9% year to date net performance in their Omega Capital Investors LP Series I and at the same time bemoan the dulcet equity market panoply. The hedge fund, which had a challenging 2016 that included SEC charges regarding insider trading, is putting risk management in focus. [munger] To end the third quarter, Omega Capital Investors under-performed the S&P 500 by 303 basis points. In the quarter alone the S&P…