I'm waiting until they get into the options market making game like Citadel. Then they could become a real powerhouse.
Look when you give money to Private Equity (which is what Fortress essentially is), you are supposed to relax and let the management do what they do best. Otherwise you have no business giving them money. They are not going to disclose how they make their choices in picking assets, fixing them up, which to take public, which to hold and which to sell. That's like giving up their edge. Do you expect a public tech firm to give up their proprietary technology secrets to all investors? You claim there is no info on them but have you tried doing any real research? You're making it sound like FIG is some scam, when it's not. If you try to tell some professional in the private equity world what you have stated in this thread, they will laugh at you and quickly note that you do not know what you're talking about. Every najor IB has relationships with Fortress This is a pioneer move, so who knows what changes will come to how Fotress operates. My guess is that the management wants to allow their investors to cash out with great success and ease, as well as make some serious dough for themselves. I also think that their best performance is in the past now that every other Joe Shmoe can get involved. It's more of a Ponzi scheme at this point. But I also KNOW that many institutions & funds of funds still want a piece of FIG and now they do not have to be pre-screened or qualifed, nor do they have to commit a minimum amount. A secondary is probably in the works. Just get it through your head that the market reaction to FIG is quite rational and makes sense. The shakeout games will continue but the truth is that the demand for this is quite high. There simply is not enough float out there so many interested buyers will just wait.
I've never said or even implied Fortress is a scam, HG. Not once. I've never said or heard that it's nothing if not a competent, completely ethical and well run firm. I've only said it appears to be priced extremely richly when compared to the likes of other quasi-private equity funds such as Goldman.
Fortress Investment Group Llc FIG:NYSE 27.10 2/20/07 52wk Low Date Falling back to IPO subscription price?
Down down down. I don't see how anyone who bought this at the market has made any money. There is no t/a to do. I was hoping volume would dry up. Wouldn't you think anyone interested at this point is just going to wait?
I think I have the answer! I have discovered Fortress's first investment post IPO! They bought a S* load of Aircastle (AYR) @ $33. Much easier to make money this way I would imagine...