Sunday, June 24, 2007

Blackstone (BX) Overvalued?

Barron's thinks so...

"By almost any financial yardstick, Blackstone looks richly valued relative to other asset managers, especially at a time when rising interest rates and burgeoning competition threaten to make the buyout business tougher. Indeed, the IPO could prove a high-water mark for the private-equity business." Read more here.

BX's first day (minute chart):

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