Fortress Financial Group, a publicly-traded asset manager with a market value of $4.26 billion, reported its 2013 results yesterdayand its biggest investment loss was bitcoin.
in my opinion it is a good thing that big money is getting in. so thumbs up for fortress. but..
but...
to effectivly create your biggest loss of all assets in bitcoin during 2013 is an outstanding example of bad timing. Wow, to screw up like that they would have bought in after November 15 (say at the peak November 30) and sold at the bottom December 15) and dropped around $7 bar into the game and be totally out before Q4 ends.
Assume they put in the minimum nesesary for the loss they account for about 20% of all volume invested in Bitcoin.
Not the behavior of a competent investment firm.