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Follow Leon Cooperman into RIM, Halliburton?
CNBC.com | February 10, 2012 | 03:33 PM EST

Money pros are taking a second look at a handful of stocks after billionaire investor Leon Cooperman, who runs Omega Advisors, disclosed new positions in Halliburton and Transocean and increased his position in Research in Motion.Cooperman is widely considered one of the smartest investors on the Street; prior to establishing his hedge fund in 1991, he spent 25 years at Goldman Sachs.What should you make of Cooperman’s positions?Research in Motion“This is a classic ‘half a cigar butt’ trade,” says Anthony Scramucci. “In other words, RIM has been half smoked. Somebody could pick it up.”But he adds it's also value stock, it's cheap.Therefore Scaramucci sees the position as a kind of calculated bet that the catalyst most likely to move the stock will be something good happening. All the bad is baked in.“If shares go higher, Cooperman could win big but because of the stock’s current valuations, he probably doesn't have a lot to lose."(The Fast gang spoke with Cooperman about his RIM position in November 2011 . Click here to see what he said at that time. Halliburton & TransoceanTrader Steve Grasso thinks Cooperman is simply buying laggards which he hopes will play a game of catch up.

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