Blackstone Inc - $BX

11 months ago

Long-term Investing

"BX (expensive): Dominant alt asset manager w/ $1T AUM. Strong perf in PE (15% net), RE (16% net) since inception. Diversified into RE, credit, infra. Benefited from falling yields, Yale Model adoption. Opportunistic in RE post-crises. Pivot to datacenters, logistics. Challenges: size, macro headwinds, high valuation (12% AUM, 28x P/E)."

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