Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Leaping lizards, Batman! Shares of private equity player Fortress Investment Group
So what: So what caused the pop? There's no obvious catalyst today, but on Friday, a blogger on Seeking Alpha may have primed the pump. Pointing out that private equity players KKR
Now what: And yes, I suspect that's what sparked the feeding frenzy today. That, and the general "We survived the hurricane!" bullish feelings on Wall Street. Before you join in the buying, though, it's worth noting: Of the three stocks highlighted in Friday's Seeking Alpha article, two are currently profitable. The third is ... Fortress.
Can a profitless P/E firm make for a profitable investment? Add Fortress to your Watchlist and find out.