Blackstone. Who really understands the plumbing? Stephen A. Schwarzman does not add color.
George is a member of The Motley Fool Blog Network -- entries represent the personal opinions of our bloggers and are not formally edited.
Blackstone (NYSE: BX) released Q4 numbers. Lets be honest. Who understands it? Who can predict or forecast it. Basically its all about transaction fees, assets under administration (AUM) and carried interest. The earnings release provides a little bit of elevator commentary. This number was up. That number was down. Still cannot understand.
So in conclusion if the market cannot figure it out why is there value? Volatility and Wall of Worry issues abound.
So when the chief guy offers up this quote you know he is not trying to help you out. Stephen A. Schwarzman, Chairman and Chief Executive Officer, said, “Despite volatile markets and struggling economies, Blackstone had strong performance in 2011. Our investors view us as a critical partner, helping them protect and grow their capital."
That's promotional if you ask me. By the way he also commented that investments made by Blackstone created employment but did not offer up any examples. You would think they could prove that one.
George Gutowski writes from a caveat emptor perspective.
