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October 12, 2015- Bloomberg TV reported that Fortress Capital has closed down the macro fund, after two-years of losses, and that Mike Novogratz has been ousted. Novogratz was a sell side banker at Goldman Sachs with no hedge fund experience before becoming the Master of the Universe at Fortress. Then, reality set in.
Meanwhile, our other local Master of the Universe, Bill Ackman, is losing money in his hedge fund too.