Blackstone is now my largest position, displacing VHC, for good reason. VHC is all concept, dependent upon the courtroom to make their living. BX is a behemoth, monster of finance, landlord and proprietor of assets in demand.
Total exposure to US real estate stands at a staggering $57 billion. A few years ago this would have been deemed to be a dreadful data point. Men clothed in burlap would sell BX short, hoping for a swift decapitation and subsequent bankruptcy. But we are living in a different world now, aren’t we? Re is in boom mode and BX in the captain’s seat.
To be specific, the sages at Blackstone took it upon themselves to buy into the distressed residential housing market, purchasing 17,000 homes, renovating them for income (rent) or resale.
Source: Credit Suisse
Real estate represents one of the four pillars of BX’s business. They are profiteers, flush with capital, dominant in the private equity world and its stock price is heading higher.
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The zombie isn’t god
What are your thoughts on VHC? Fly, do you still have the same conviction?
I like it. But I will not allow it to break me, now that I am up 15%.
Thanks.
ELLI crushed earnings and guided higher, I’m surprised the stock is not higher!
The bus that transported the fecal laden Carnival passengers broke down.
LOL
Silver and gold stocks are toast!
To zero
Watch ABX for a long today.
It is basing (not going down) as the physical goes down.
AEM has the nice div. I got it at $34…
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$DUST stay rich
I am one with my yearly goal here… 80% cash now
any thoughts on LTE tech? spectrum growth to slow?
No idea
I think the gold sell off now is just an after thought (like always).
Soros already sold his holdings in GLD.
PM stocks have been going down for 4-5 months and the physicals just sat there.
Its too late to sell the PM stocks and in fact they may be good for a long trade here.
One has to think like a psycho (no Charles Manson) to trade them.
Funny – I call my trading portfolio “psycho port” .. I blogged about it last year lol it only has one rule – there is no rules.
I bot RUSS there today – short Putin and his oil 🙂
some say : the glass is half full some say : the glass is half empty
i say it doesnt matter with a double martini.
I know this is OT, but I thought you would enjoy the irony of this little tidbit, Fly, given your post the other day…..
http://www.cbsnews.com/8301-505263_162-57569573/carnival-rescue-bus-breaks-down-while-bringing-passengers-home/
I like it! Buy BX, enjoy the run, and sell when the insiders decide to get paid again by offering another 10% of their shares to the public. The timing of the IPO in ’07 was very impressive. Them guys is good.
They are good, but they do not have the shareholders interests first.
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