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The Blackstone Group L.P. Message Board

  • billlewisiv billlewisiv Apr 18, 2013 1:44 PM Flag

    HERE'S what's wrong:

    It's not your father's stock market anymore, it's a casino. Wake up, kids. Today's reaction to one incredible, totally #$%$' earnings report from BX was totally predictable. 70% of trading today is done by HFT (high frequency trades). And don't forget the classic "buy on the rumor, sell on the news." Lots of traders are up on their positions in BX, and when they see a report like today's, they figure "this is as good as it gets," they book their profit and run. A little surprising though, with the TRIPLING of the quarterly pay-out. Wait for the smoke to clear and buy.

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