Fortress Investment Goes Public

Eddy Elfenbein submits: The first publicly traded hedge fund just started trading. Will the 90s ever end?

Fortress Investment Group (FIG) raised $634 million from its offering The ticker symbol is FIG, which seems to have an appropriate "fall of man" vibe to it. Naturally, the stock doubled on Friday.

What I don't understand is how anyone can properly analyze this company. The idea of a hedge fund is that you don't know exactly what they're buying or selling. And it can all change very quickly.

Oh, listen to me and my silly worries! Who am I kidding? This stock is like a great unsinkable ocean-going vessel, plowing its way through the chilly waters of the North Atlantic. What could possibly go wrong?