Blackstone Investors Are Dumb

Blackstone (BX) issued results and watched the stock sell off. While I do not apologize for the likes of Blackstone you have to wonder what are investors thinking these days. We have nothing but difficult to terrible financial news. The deal making business which needs cheap money and inflated valuations has not been doing well. So when Blackstone comes out and shows large red ink you have to wonder about delusion investors who are fooled and need to sell off, dropping the stock some 5% by noon.

The real issue is what are you going to do about the assets they are holding which need to be flipped out. They are so addicted to transaction fees they forgot to think like investors. Would you like to own the asset or do you just want to stroke it on the way through.