Blackstone's A Bargain

Blackstone Group (BX), which went public at around $30 per share just last summer, is now selling for less than $20. Mr. Blackstone himself bought some shares last week.

I think that at these levels, BX is a buy. Incidentally, with interest rates low and going lower, and company valuations 15% lower than they were last summer, I suspect we will start seeing M&A activity pick up soon. Case in point - CME's (CME) acquisition of Nymex (NMX) announced yesterday.

Comments

[Finguy:]

How about justifying why BX is a buy, other than the fact that its price has fallen? And who is "Mr. Blackstone"?

2008 Jan 29 05:39 PM

[BAC long te...:]

I too would like to know why it is a bargain!

I already own 3K of BX and would like to have some reassurance for my position! I don't know if there is an Mr. Blackstone, however. The Chairman and CEO is a guy name Stephen A. Schwarzman. There is an article by an associate of yours that has a somewhat negative view of Mr. Schwarzman, shown below:

seekingalpha.com/artic...

2008 Jan 31 11:00 PM

[User 8093:]

The company announced a buyback of 500mm shares on the last cc, that's who the author is referring to as (Mr. Blackstone).

This is a longterm investment, and a slightly more complex story than any other financial-- it's been awarded a multiple that of a broker it seems, however the growthrate of this company is about 3.5 times that.

2008 Feb 03 12:31 PM