Blackstone's James: Party still in early stages

"I don’t see the good times coming to an end for quite a while, absent some global shock,” says Blackstone (BX +0.2%) President Tony James. “I’m not sure the stock market doesn’t have a long way to run still, and the economy certainly still has a long way to run.”

Higher interest rates? It would create "turmoil," giving Blackstone and its P-E peers (FIG, OAK, CG, KKR, to name a few) the chance to pick up assets at bargain prices, says James.

The biggest challenge at the moment is slow deal-making - the number of P-E transactions YTD is off 16% from a year ago. “There’s just not much out there to buy ... There aren’t many corporate sellers -- why that is, we can speculate -- but there just aren’t.”

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