Fortress Investment Group
10/24 Close: $4.29/share
In retrospect, asset management company Fortress Investment Group (NYSE:FIG) couldn’t have gotten into the business at a worse time — in 2007, right as the red-hot bull market began to implode. It’s been nothing but losses from day one for the company, and by extension, for investors.
Have you seen the top and bottom lines for the past two quarters, though? Revenue has stabilized, and those nagging losses were whittled away into a small profit of $4.71 million in the second quarter of this year. Assuming Fortress is still on that path, it certainly makes the forward-looking P/E of 7.6 seem plausible.