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More on Blackstone (BX): Just a bit of improvement in markets/economies shows the power of the...

More on Blackstone (BX): Just a bit of improvement in markets/economies shows the power of the company's business model: Fee revenues +13% Y/Y. Performance fees swing to a gain of $603M from a loss of $457M a year ago. Investment income swings to a a gain of $107M from a loss of $134M a year ago. This leads to Economic Net Income (ENI) of $622M vs. a loss of $234M a year ago. AUM +30% Y/Y to $205B. Shares +2.7% premarket. (full presentation)
Comments (6)
  • elsrmp56
    , contributor
    Comments (176) | Send Message
     
    Very nice financials.
    18 Oct 2012, 08:34 AM Reply Like
  • Mike Maher
    , contributor
    Comments (2762) | Send Message
     
    Its hard to not want to invest alongside these people. They've been picking off real estate assets over the last few years, in moves that will provide steady rents for years and years.
    18 Oct 2012, 09:07 AM Reply Like
  • Swliv
    , contributor
    Comments (138) | Send Message
     
    Yet Tues. http://bit.ly/PcGHl2 a BX JV sold 133 senior housing communities with nine more to be sold. Maybe not an LT rents strategy.
    18 Oct 2012, 12:05 PM Reply Like
  • Mike Maher
    , contributor
    Comments (2762) | Send Message
     
    They still own large portfolios of hotel and industrial properties. They can't hold the properties forever, since they'll eventually have to deal with redemption, but buying assets out of bankruptcy, increasing occupancy rates, and then selling a few years later is a solid strategy.
    18 Oct 2012, 12:16 PM Reply Like
  • Larryat36
    , contributor
    Comments (16) | Send Message
     
    Looking great for the long term.
    18 Oct 2012, 09:51 AM Reply Like
  • Weston 448
    , contributor
    Comments (12) | Send Message
     
    I was able to participate in the IPO, so purchased a big bunch at 31. Then suffered all the way down to 5 or so. Engaged in very active "averaging down", on the theory that these guys just could not miss in the long rum. My average cost is now somewhat below 14.
    Could it finally be happening?
    It is hard to itemize the portfolio, but I have watched it be accumulated. My best judgment (ie, my earnest hope) is that the next five years are going to be extraordinary.
    18 Oct 2012, 09:54 AM Reply Like
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