And here's what it's worth: it will suck in some buyers and the share price will rise a little...and then the traders and players will effect another dump. Still long here...when the players want this to go up, it will go up like crazy. CASINO OPENS IN ONE MINUTE....
You're correct...something doesn't feel right, and it isn't. BX share price is controlled (read: plagued) by programmed trades, players, day traders and options bets. Manipulated doesn't begin to describe it. It's all completely legal, of course, but that doesn't make it right. The stock sits pretty close to where it started the year...after delivering three of most impressive quarterly earnings reports I've ever seen and jacking up the divvy (partnership distribution), BX share price hasn't budged. Why? Because the players don't want it to. When they do, it will go up. Until then, join other longs in another round of teeth gnashing.
And that's why I continue to be long BX in spite of the daily manipulations by traders and players. BX takes on a clunker like this troubled theme park, and DOUBLES THEIR INVESTMENT. These guys are good. Best to let it ride.
ONLY way to play BX is long, and very long. This stock is manipulated like CRAZY on a daily, no make that hourly, even minute by minute basis. Who's doing the manipulating? More than likely, options players and day traders. Swing traders. If you simply bought BX and held it for the last 4-5 years, you've done much better than AAPL, GOOG and many other blue chips. Not to mention the 6% yield.
Aaaaand since this upgrade? Down how much? 10%? 20%? Sheesh. I've lost money in situations like this...longs, you have my sympathies. You're being taken.
BX and CG - great companies, good stocks, trading in a horrible b.s. market. They really should rename the NYSE - call it something like "Harrah's" or "Circus Circus" because it's nothing but a casino, legally rigged so the house wins. Look for BX to advance in the fall - until then, enjoy the wheel spinning.
Wow. Three of the most impressive earnings reports I've ever seen this year from BX...they just keep crushing it and jacking up the partnership distributions. In a rational market, BX should be up 20-30-40% for the year, right? Wrong. Flat. Up 2-3%. What gives? This market blows. Argentina or the Ukraine farts and BX tumbles 10% in a week. Going long or putting new money to work here? Insanity.
Argentina farts and the financial world panics. BX sheds 10% in a week after the greatest quarterly earnings report in history and upping guidance. Lesson learned: this market blows. Putting new money in at this point or going long is suicide. Casino opens in 37 minutes.
Three quarterly reports in 2014 knocked out of the park, earnings estimates raised, what does it get you? NOTHING. Eight months of gains wiped out in just two weeks after the best earnings report in the history of the universe. Yeah, right. The market has jacked this stock and jacked it good. What a crock.
three consecutive quarterly earnings reports that are beyond anyone's wildest expectations...then a raising of earnings estimates...and now THIS??????? What complete and utter crapola.
If this is the way the market responds to an absolute blow-out quarter, what will happen when Blackstone misses the mark in some upcoming quarter? When earnings come up short? Can we expect a 20, 30, 40% drop in the share price? THE CASINO IS OPEN!
Talk about Groundhog Day with Bill Murray...we see this quarter after quarter after quarter after quarter with this stock: glorious earnings amounts to a fierce sell off EVERY FREAKING TIME...