I don’t think I even knew what Hedge Fund was before this year…and I’m sure some of you still don’t. My friend worked at Fortress and left well before the shit hit the fan, economically speaking. He was shocked this Christmas when he looked up their stock price and found it had plumpted from $30 a share to $1.25…yes…he pretty much had his head buried in the sand for all of that time and didn’t realize how bad things in NY really were.
This article does a great job summing up how these men made their fortunes and what’s going on in the hedge fund market now. I’m surprised there still is a Hedge Fund market of course, I’ve never had enough scratch to play in the big leagues. Damn you NJ Mega Millions winners! Now I don’t even have an office to start a Mega Millions pool with! Le sigh.
Bethany McLean on the Fortress Group | vanityfair.com.