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$13.44 -0.26 (-1.90%)
10/7/2008 11:13 AM

The Blackstone Group L.P. (BX)

CAPS Rating:
**

An alternative asset manager Company and its business include the management of corporate private equity funds, real estate opportunity funds, funds of hedge funds, mezzanine funds, senior debt vehicles, proprietary hedge funds & closed-end mutual funds.

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Avatar Tawse24 (24.93) Submitted: 6/25/07 5:34 PM : Outperform Start Price: $30.22 BX Score: -25.77

This is only based on what they have paid out to investors in the past and


the four quarters being same (assuming no growth) from the first quarter:





If they earned 4.7 Billion to $7.5 Billion this year with 12.5% interest that would account for $585 to $940 million in earnings


for the units and at 25 times P/E that puts market cap at $14.55 to upwards of $23.5 Billion. That is a stock price of $90 to $165.





I think it will take some time and worry about the FIG story. But I like this market leader and think the value prop is different enough from more comprehensive firms like GS that it should hold long-term value.

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