Leon Cooperman of Omega Advisors was on CNBC today discussing his views in the equity market. He thinks a 15x - 16x S&P multiple is reasonable and he thinks they can earn around $100 - $106 so he thinks $1500 - $1600 is fair value - which is where we are now. He is not worried about a big break to the downside given Fed policies and thinks people have under-risked dramatically. He then went on to talk about THL Credit (TCRD) which yields 9.5% and sells above book value, he thinks the dividend will go up throughout the year and they just participated in a secondary offering. He thinks there are a ton of stocks that are more attractive than a 2.2% treasure rate. He then spoke about Linn Energy (LINE) how he thinks the stock is worth $40 and thinks the dividend will go up after the acquisition of Barry Petroleum closes. This stock has been controversial - specifically Barron's has come out with a number of negative articles on their put hedging strategy. He then spoke about why he went to sue Tetragon Financial (TFG) - the company had a near six year run of poor corporate governance and when they bought another company he brought the lawsuit to try to push for positive changes at the company. He then talked about what they are actively buying - TCRD which they are buying today, ESRX which they are buying, HAL which they are buying, and MSI which they are buying. In the turnaround category they are buying SandRidge (SD) and think its worth $10 vs. approx. $5 today.