Fortress Under Siege

Originally Published In the News 8/14/07

Fortress Investment’s IPO inspired a number of imitator’s that were unable to come to market before the market turned south. Earnings are out, and the stock might challenge its lows in the wake of their report. Multiples in the group have been contracting, and if this stock can’t work its way higher the chances of another IPO coming to market from an alternative manager will further diminish . We want to congratulate them, but not for today’s numbers. They got the deal done, proving once again that timing is everything.

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