Tuesday, January 13, 2009

Blackstone disapointment (bx)

From 8.25 - 6.25 in a few days. Now today confirmation of news and its the deal in Asia that was going to be a buy at basement value. 25 billion worth. So the 4 men putting the deal together have said the deteriating credit markets since this October purchase has fell thru. They packed up and said theres better deals to make in NY and London. To me this is a gain, the market sold off badly on this 25%. Investors expected a deal .50 on the dollar. Blackstone a public hedgefund that has plenty of oportunity in our oversold markets. There estimated to control 100 billion. Part of there decline is they are now regulated like a publicly traded company. Not like loosely regulated straight hedge funds who answer to nobody but investors and have on average returned 20% yr in and yr out. Only the very wealthy can get in. BX ipo at 39.00 less then 2 yrs ago and had to disclose and sell alot in order to meet public regulations. I've made my worst pick hear and baring a quick turn around will loose 15% from my buy price. I feel we will get the bounce soon and cross 9000 dow. fslr, chk drys cme ice will all move 10-30% in a short time when the bounce comes. I suspect Hillary today will alone p/u the market if comfirmation become inevitable. G/L all