WB, re Fortress
What do you think about Fortress? This is my thought which I posted to David.
Bob on cnbc was commenting on Fortress IPO several times today, highlighting pros and cons. However, he was emphasizing on the average hedge funds do not perform better than SPX. You have noted some of the points in detail. I was interested in what others were thinking about the idea of hedge fund public offering since I noted that the rich folks will be benefiting from downside market; but, now we have so many ways to hedge financial future, we can't blame on downside market for portfolio not-doing-well. We now have efficient market than before as we can buy ETFs short/long sides. Good to see that we have more choice than just a couple of years ago. Market is becoming more efficient, and now public just needs to do well by doing their homework or by choosing good financial advisers.
Also, I am hearing rumors about iran. Hopefully things will work out peacefully.
Have a nice weekend
