Thursday, June 21, 2007

Blackstone IPO Trades Tomorrow

So, it all starts tomorrow as the PE King, Blackstone begins trading

It will trade under the symbol BX and priced at the top end of the range at $31 a share. If you believe in the "greater fool" theory then this would be an indication that these firm are at the top and the people in the know are cashing in. This is especially relevant when you consider that KKR, probably the most well known to the gneral public of the bunch hired Citi (C) and Morgan Stanley (MS) to consider a possibly IPO also.

If there was a huge upside to these folks I do not think they would be cashing out and subjecting themselves to all the increased scrutiny a public company goes through.

I will stay away...

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