Shares of Fortress Investment Group (FIG) Continue To Rally

Stocks are continuing to rally during these summer months. In fact, today the S&P 500 crossed 1,000 level for the first time this year. Plenty of stocks are participating in the rally, but Fortress Investment Group (NYSE: FIG) and Blackstone Group (NYSE: BX) are having spectacular days with FIG being up 13% and BX up 15%.

As the economy improves, investors are speculating that Fortress and Blackstone are going to be winners in the financial markets. These companies purchase assets and companies on the cheap and then reposition the asset in order to sell it at a premium price at a later time. If asset prices rise or stabilize then BX and FIG will be direct beneficiaries of improved pricing for the assets they already own.

Last week, Fortress named director and former Fannie Mae (NYSE: FNM) CEO Daniel Mudd as its new CEO. The move allows its former CEO, Wesley Edens, more time to focus on buying assets and that are now cheap by what Wes calls the "Great Deleveraging" of the past year.

Fortress is scheduled to report earnings this week.

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