Friday, 24 October 2014
Last updated 2 hours ago
May 8 2008 | 12:47pm ET
Fortress Investment Group posted a loss in the first quarter despite a big jump in assets under management and revenue.
The firm said it lost $69 million in the first three months of the year, compared to a $62.1 million profit a year earlier. Pre-tax distributable earnings fell almost three-quarters to $58 million from $220 million in the first quarter of 2007. The drop was attributed to payments to the firm's principals.
But the news was not all bad: The alternatives giant said assets under management soared 46% to $34.2 billion, while quarterly revenue rose 48% to $145 million.
Fortress, which went public last year, said it raised $2.6 billion in capital in the first quarter, and has raised another $1.8 billion since.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...