Blackstone is one of those picks where I think I would like to own some stocks for long term. Probably the most awaited IPO in recent weeks. It was priced at $31 but currently it is trading around $36, that’s roughly 16% up vs the IPO price.
No matter what others might think, I am long term bullish on this stock. This has been major firepower behind so many recent high profile buyouts. I personally also respect their business acumen. Currently there are no options listed on this, so will wait for while before boarding the train.
For those who don’t know about Blackstone, here is brief profile of the company:
The Blackstone Group L.P. is a global alternative asset manager and provider of financial advisory services. The Company is an independent alternative asset manager with approximately $78.7 billion worth of assets under management as of March 1, 2007. Its alternative asset management businesses include the management of corporate private equity funds, real estate opportunity funds, funds of hedge funds, mezzanine funds, senior debt vehicles, proprietary hedge funds and closed-end mutual funds. It also provides various financial advisory services, including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement services. The Company’s business is organized into four business segments: Corporate Private Equity, Real Estate, Marketable Alternative Asset Management and Financial Advisory.
Profitable trading, OP