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.

Faisal Laljee

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This article has 3 comments:

  •  
    Jan 29 05:39 PM
    How about justifying why BX is a buy, other than the fact that its price has fallen? And who is "Mr. Blackstone"?
  •  
    Jan 31 11:00 PM
    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...
  •  
    Feb 03 12:31 PM
    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.
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