Seeking Alpha

Blackstone's James continues selling company shares

  • Amid a big run for his stock and the private-equity industry in general, Blackstone (BX) President (and putative successor to CEO Stephen Schwarzman) Tony James sold 3.25M shares last week, netting him and his family $88.6M.
  • James began the year owning over 10M common shares of Blackstone, but a big sale in February and a smaller divestiture this summer combined with this week's exit to leave him with 3M.
  • Up 71% YTD, the stock - needless to say - has cruised right through his earlier sales. Insider buys are always more interesting as execs have any number of reasons to sell, but buy for just one reason.
  • Blackstone has made plenty of headlines of late for prepping exits from a number of high-profile real estate deals, and is near bringing to market an ABS backed by rental payments from part of its now-$7B empire of single-family properties.
  • "We're in the middle of an epic credit bubble ... the likes of which I haven't seen in my career," said Blackstone global head of P-E Joe Baratta last month. "Valuations we have to pay relative to the growth prospects are out of whack right now."
  • Up and to the right would how be how one well-known trend-following wag would describe a chart of P-E (BX, KKR, FIG, OAK, APO) performance over the last year.
This was corrected on 10/27/2013 at 01:41 PM.
Comments (9)
  • Patent News
    , contributor
    Comments (1321) | Send Message
     
    a good sign they are offloading... of a near term market top!!

     

    and also re-packaging these houses.

     

    sounds like 2007?
    26 Oct 2013, 03:38 PM Reply Like
  • WhitneyB
    , contributor
    Comments (227) | Send Message
     
    Sometimes the captain gets to leave the ship before it starts taking on water.
    26 Oct 2013, 03:54 PM Reply Like
  • DAG1996
    , contributor
    Comments (3082) | Send Message
     
    Yep, that bigger sale of stock in February definitely signaled the market top. lol All the luck in the world to the geniuses who think they know something special because a billionaire sold some stock.
    26 Oct 2013, 03:56 PM Reply Like
  • deercreekvols
    , contributor
    Comments (5245) | Send Message
     
    Mr. James still has 3M shares of stock. It's not like he sold every share that he owned. What's stopping him from buying more shares in the future?

     

    Move along...nothing to see here.
    26 Oct 2013, 05:51 PM Reply Like
  • Patent News
    , contributor
    Comments (1321) | Send Message
     
    you are blind.
    26 Oct 2013, 07:58 PM Reply Like
  • Patent News
    , contributor
    Comments (1321) | Send Message
     
    yes, see here as well:

     

    http://bit.ly/16dfYLj
    26 Oct 2013, 08:06 PM Reply Like
  • DAG1996
    , contributor
    Comments (3082) | Send Message
     
    My point exactly. The types interested in pseudo "news" consistently fall into one of three categories:
    1) the types who miss the boat on incredible returns because they base investment decisions on this kind of stuff and need to make themselves feel better about that
    2) the "this will all end badly so the only smart investment is under your mattress" types who try to wish their misguided judgment true
    3) short sellers grasping at straws in attempt to support their empty thesis and convince others they're right in spite of the glaring facts
    26 Oct 2013, 09:11 PM Reply Like
  • deercreekvols
    , contributor
    Comments (5245) | Send Message
     
    Not sure if I am the one who is blind or above comment was intended for DAG1996.

     

    I stated a fact. Mr. James has (at least) 3M shares of BX.

     

    I am long BX and have no intentions of sell any or all of my position based on this "news."
    27 Oct 2013, 09:12 AM Reply Like
  • DAG1996
    , contributor
    Comments (3082) | Send Message
     
    Just stumbled across this thread again ... yep you were right as usual ... all that money the $BX 20% gain in three months made blinded me from your "market top".
    2 Jan, 05:38 PM Reply Like
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