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Billionaire investor Cooperman sees 8 cheap stocks including Amazon and Wells Fargo

  • Leon Cooperman founded Omega Advisors in 1991. The firm has approximately $3.7 billion in assets under management.
  • "I'm finding a lot of stocks that are attractively priced," said the hedge fund manager. "My largest position is Google."

Leon Cooperman, chairman and CEO of Omega Advisors, shared his top stock ideas Tuesday on CNBC's "Halftime Report."

"I'm finding a lot of stocks that are attractively priced," said the hedge fund manager. "My largest position is Google [meaning Alphabet shares, the company that owns Google]."

Cooperman said Alphabet trades at 19 times next year's earnings and is able to grow its sales at 20 percent per year. He likes how it has a "fortress balance sheet."

He revealed he owns other growth technology stocks such as Facebook and Amazon.

"Amazon is changing the whole landscape of retailing," Cooperman said.

The investor is bullish on financial stocks as he predicts rates will rise, boosting the sector's earnings prospects.

"We own some Wells Fargo. We own some Citi," he said. "Interest rates are below where they ought to be. I expect interest rates to rise."

Cooperman also forecasts oil prices will increase to $60 per barrel.

"We own Hess. We own Parsley Energy ... WPX Energy," he said. "The world economy is not going to grow 3 percent to 3.5 percent without the demand for energy growing."

Cooperman founded Omega Advisors in 1991. The firm has approximately $3.7 billion in assets under management, according to its website.

His firm agreed in May to a $4.9 million settlement with the Securities and Exchange Commission after allegations of insider trading. As part of the settlement, Omega Advisors admitted to no wrongdoing.