Michael Novogratz is the president of investment firm Fortress Investment Group. Prior to joining Fortress, he was a partner at Goldman Sachs. He is a graduate of Princeton University, where he was a member of the wrestling team. He is a former U.S. Army helicopter pilot.

Fortress Investment Group LLC is an American investment management firm based in New York City. The company went public on February 9, 2007. As of December 2012, the firm managed alternative assets in private equity, liquid hedge funds and credit funds.

Thursday, June 6, 2013

Taper by 'Fat, Dumb and Happy' Fed Will Hurt: Strategist

"As long as the inflation indicators keep pointing down, the Fed is sitting there with a cigar in their one hand and bourbon in their other," he said. The economy is also growing, so "it's a perfect storm" for the Fed, he said. "They'll talk about tapering, and they'd like to, but it's not in any rush."


"It's been a wall-of-worry market. People have not bought in yet. That's why the market doesn't go down," Novogratz said, adding that stocks are cheap. "If you look at the stock market today versus where it was in 2007, earnings are higher. There's no alternative investments."

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