Fortress sitting on $3.7M loss on bitcoin buys


It's a minor black eye for the master capital allocators at Fortress Investment (FIG +1.4%) after the company discloses a mark-to-market loss (as of Dec. 31) of $3.7M on $20M of bitcoin purchased during 2013.

10-K

Comments (4)
  • DeepValueLover
    , contributor
    Comments (11169) | Send Message
     
    Embarrassing!

     

    C'mon guys...stick to REAL assets!
    28 Feb 2014, 10:30 AM Reply Like
  • indianpass
    , contributor
    Comments (4) | Send Message
     
    3.7 m is a rounding error for these guys. BFd.
    28 Feb 2014, 11:07 AM Reply Like
  • binkybink
    , contributor
    Comment (1) | Send Message
     
    mark to market + bitcoin = enron squared.
    28 Feb 2014, 01:01 PM Reply Like
  • Morgan Myrmo
    , contributor
    Comments (969) | Send Message
     
    omg I can't believe these guys blew it that hard.. gambling idiots!
    28 Feb 2014, 02:44 PM Reply Like
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