market folly

Omega Advisors' Lee Cooperman has filed a 13G with the SEC regarding shares of Resource America (REXI).  Per the filing, Cooperman has disclosed a 11.7% ownership stake in the company with over 2.69 million shares.

This is a new position for Cooperman since the end of the first quarter.  The filing was made due to activity on May 29th.

For more from Cooperman, head to his latest stock picks from the SALT Conference.

Per Google Finance, Resource America is "a specialized asset management Company, which evaluates, originates, services and manages investment opportunities through its real estate, commercial finance and financial fund management subsidiaries. The Company seeks to develop investment funds for outside investors, for which it provides asset management services, underLong-term management arrangements either through a contract with, or as the manager or general partner of, its sponsored investment funds. It maintains an investment in the funds it sponsors. In its real estate operations, it concentrates on the ownership, operation and management of multifamily and commercial real estate and real estate mortgage loans, including whole mortgage loans, first priority interests in commercial mortgage loans, known as A notes, subordinated interests in first mortgage loans, known as B notes, mezzanine loans, investments in discounted and distressed real estate loans and investments in value-added properties."