Hedge Fund Hilarity: Fortress Jokes About Leaving Public Markets

``First, he quipped that the market had cheapened the value of Fortress’s portfolio companies so much that he would be willing to buy them all back. He also joked that if Fortress stock fell much further, to $1, he would institute a hostile takeover of his own company. With only around 35.5 million Fortress shares in public hands, that imaginary deal would cost just $35.5 million–pocket change to Edens, whose net worth is in the hundreds of millions of dollars and who put a little less than $100 million of his own money in Fortress’s new private-equity fund.''