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The Blackstone Group L.P. Message Board

  • habbas3000 habbas3000 Dec 30, 2013 6:46 AM Flag

    What's the plan for Crocs?

    Can't say that I'm a big fan of this investment. I guess a 6% dividend isn't horrible. (I'd take it if I thought the company was stable, but I get a better tax rate on preferreds than BX.) Hard for me to see the common stock doing much, though. Does anyone know the end game for this. Is there value to be unlocked in Crocs?

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    • I read (from a not particularly reliable source) that Crocs are somewhat popular in China, so there is potential for growth there. Although Crocs have had their 15 minutes in the US, it's conceivable that they could get another bite at the apple in overseas markets.

      • 1 Reply to garygrunter
      • Hmm - interesting, although I was hoping there was an opportunity for me to play their same game. Individuals can sometimes figure out what the wall streeters are doing and get in on the game because they are small and nimble. I supposed that I could also buy some Crox shares, but my stake in BX is a large enough bet on Crox for my tastes.

    • Uh not a tax loss! I would say that they are planning on making plenty on the investment. I wonder is they got any kickers? I would not want to bet against the BX guys. I once talked to a person who had done business with BX and he said they NEVER lose!!! It would seem that HLT is proof of this. But if you are not convinced by now, you cannot be convinced!

      Sentiment: Strong Buy

    • Obviously if BX is investing $200 Million into CROX, then BX know what they are doing. CROX stock price is way undervalued. The market still can't forgive CROX for 2007.

      Sentiment: Strong Buy

      • 1 Reply to jeffreyali1202
      • that's what I'm asking, is "does anyone have any ideas about what BX is doing?" I can't see how Crocs is going to get any bigger than they are now - there were no "redux"'s for pet rocks. They had their moment in the sun. Anyone who can't forgive Crocs for the stock drop in 2007 should look in the mirror.

        $200 million is a relatively small investment for BX, and I bought the stock for their judgment, so I'm not going to get overly excited, but I'm curious to know what the strategy might be.

 
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