I have always appreciated the straightforward questioning and curmudgeonly manner of Leon Cooperman in the handful of times that I have encountered him at investment meetings over the years. I have also admired the story of his humble beginnings, and the hard work and acumen that led to his tremendous success.
Similarly, I too believe in the meritocratic ideal of capitalism, but in the 21st Century the “meritocracy” of that ideal has been severely weakened. And the serious flaws of capitalism as it is practiced in the U.S. today might very well lead to its demise in almost the exact manner, and for the same reasons, that Karl Marx described 150 years ago.
Highlighting those flaws – many of which are or were off the radar when I did – describing in detail the implicit errors in them, and providing solutions is why I began this website eight years ago. The tagline says it all: The Capitalist Revolution Begins Here.[Read more…] about Leon Cooperman, Minimize Your Regrets