Thursday, January 12, 2012

Fortress Investment Group LLC (NYSE:FIG), do you think it is cheap enough to buy yet at these levels?

http://finance.yahoo.com/q/ae?s=FIG

Fortress Investment Group LLC (NYSE:FIG), do you think it is cheap enough to buy yet at these levels?
This one popped up on my screener today. But I didn't take a close look at it. It might be a good buy at this level, but it's hard to be certain in the present enviroment. It may simply have been beaten down with all the other financial stocks, but three straight quarters of declining revenue really worries me. For that reason, and because I don't know just what it's exposure is to subprime, I passed on it. So far I'm still staying away from the financials. I think that there'll be plenty of oppurtunity to get into financials once I'm certain that it has bottomed.
Reply:I just have a problem buying a stock that is dropping now and has been dropping for awhile. Seems like things that are dropping tend to keep dropping. If it were to turn, bounce off its technical support level (right about where it is now), that would be a good sign. But, if it penetrates it, then lower prices would be natural. There are better opportunities out there. Edwards made a lot of money in their hedge funds, so if you invest with politicians, that might make a difference.

omar

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