WHEN: Today, Tuesday, October 11th
WHERE: CNBC's "Squawk Box"
Following are excerpts from the unofficial transcript of a FIRST ON CNBC interview with Omega Advisors Chairman and CEO Leon Cooperman on CNBC's "Squawk Box" (M-F, 6AM-9AM ET) today, Tuesday, October 11th. Following is a link to the story on CNBC.com: http://www.cnbc.com/2016/10/11/leon-cooperman-the-amount-of-money-being-wasted-on-insider-trading-charges-is-shocking.html. Following are links to the video on CNBC.com: http://video.cnbc.com/gallery/?video=3000558375, http://video.cnbc.com/gallery/?video=3000558376 and http://video.cnbc.com/gallery/?video=3000558378.
All references must be sourced to CNBC.
COOPERMAN ON INSIDER TRADING STATEMENT
OMEGA AND I HAVE ALWAYS FOLLOWED THE LAW. ANYONE WHO HAS DONE THEIR HOMEWORK WOULD UNDERSTAND THAT OMEGA WAS BUILT ON DOING DETAIL FUNDAMENTAL RESEARCH AND COMPLYING WITH THE LAW. WE COULD HAVE SETTLED WITH THE SEC FOR THE AMOUNT THAT IS FAR LESS THAN I DONATE TO CHARITY ON AN ANNUAL BASIS, BUT I REFUSE TO DO SO BECAUSE I KNOW THAT WE ACTED APPROPRIATELY AND LAWFULLY…IT TOOK ME 50 YEARS OF HARD WORK, VERY LONG HOURS, PLAYING BY THE RULES TO GET WHERE I AM PROFESSIONALLY. AND I'M NOT GOING TO LET THEM BASICALLY UNFAIRLY DESTROY MY LEGACY.
COOPERMAN ON STOCK MARKET
I THINK THE MARKET IS FULLY VALUED, NOT EXPLOITED. NOT OVERVALUED, BUT FULLY VALUED. BECAUSE OF THE MONEY THAT'S FLOWING INTO THE MARKET IS LARGELY GOING INTO THESE INDEX PRODUCTS, I THINK THERE ARE MANY COMPANIES THAT ARE VERY CHEAP RELATIVE TO THE INDEX. SO, I THINK THE S&P IS FULLY VALUED, NOT EXPLOITED, NOT OVERVALUED. BUT I FIND A LOT OF STOCKS THAT ARE ATTRACTIVELY PRICED.
COOPERMAN ON POLITICS
I THINK THE PEOPLE THAT ARE IN FAVOR OF DONALD TRUMP ARE BASICALLY SAYING I KNOW WHAT I GET WHEN I GET HILLARY CLINTON. I DON'T WANT THAT. I'M NOT SURE WHAT I GET WHEN I GET DONALD TRUMP. I'LL TAKE MY CHANCES.
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