market folly

In a 13G filed with the SEC, noted investor and hedge fund founder Leon Cooperman has disclosed a 5.4% ownership stake in Given Imaging (GIVN). The filing was made due to activity on October 28th, 2009 and he now own 1,588,409 shares. This is an increase from his 978,709 shares that he held back on June 30th, 2009 as reported in his last filing. Back in September we covered a brief hedge fund panel that he took part in where he shared his thoughts on the market.

Leon Cooperman is well known for founding Omega Advisors, a multi-billion dollar hedge fund. Before starting his fund, Cooperman spent 25 years at Goldman Sachs, notably serving as Chief Executive Officer of their Asset Management division. He attended Hunter College for undergrad and then received his MBA from Columbia University. His work has landed him on the prestigious Forbes billionaire list.

Taken from Google Finance, Given Imaging is "develops, manufactures and markets diagnostic products for the visualization and detection of disorders of the gastrointestinal tract. The Company product, the PillCam capsule endoscopy, offers a range of PillCam video capsules and related products. The PillCam capsules can be easily ingested by patients and move naturally through the gastrointestinal tract without discomfort while wirelessly transmitting to a portable recorder, enabling the gastroenterologist to view high quality video, images and data on a RAPID workstation, utilizing its RAPID software."