Briger foresees a great liquidation
By Britt Erica Tunick
Wed Nov 3, 2010
The Fortress co-chairman feels “like a kid in a candy store,” predicting he’ll reap immense profits buying distressed assets.
If you think the financial sector has stabilized since 2008,
think again. The market is poised to experience a wave of
liquidations among financial institutions unlike anything
before, according to Peter Briger, co-chairman and chief
investment officer of Fortress Investment Group.
"We're going to see more financial asset liquidation, more
debtor creditor enforcement and more creditor-to-creditor
litigation over the next five years than we've seen in the sum
total of the last 100 years," Briger told attendees of the 2010
AR Symposium on November 2. "There's going...
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