“You can’t go back and change what you had for breakfast.”
–a saying favored by Fortress Investment Group
CEO Wesley Edens, according to today’s Wall Street Journal. On Tuesday Fortress’s stock fell 23% to $2.76, a steep drop from the alternative asset manager’s February 2007 IPO price of $18.50 (not to mention the $35 it reached on its first day). The phrase, which Edens heard from his father, was referenced in an attempt to add levity to the unfortunate timing of Fortress’s IPO.