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The Blackstone Group L.P. Message Board

  • billlewisiv billlewisiv Aug 15, 2012 8:43 AM Flag

    You'll need the patience of a saint

    to be long BX.

    In 2007 I waited until the stock had fallen 30% from it's IPO price of 31 bucks, then started buying BX in the low 20's. (huge mistake, obviously)

    Watched it fall to 3 bucks in early 2009, with a yearly dividend of $1.20, or a whopping 40%. FORTY!!! With the sky literally falling, buying more at 3 bucks was impossible. I held.

    But the meltdown of '08 created remarkable opportunities for BX to swoop in and scoop up distressed businesses and properties at ridiculously low prices.

    They've been telling us this for several years now, and the average analyst's price target for BX is 19 bucks.

    So why is this languishing at this level?

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    • At least you don't own it from he IPO price and higher. I have 800 at an avg. price of 33.

      This stock has been a disaster. When are they gonna unlock the value, stop doubling the # of shares outstanding and quit paying Schwartzman a jizillion $ a year for no performance.

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