The Simpsons made $72 million in its opening weekend (our favorite comic book guy scene - facing impending doom, the comic book guy muses (paraphrasing here) "I've done nothing in my life buy collect comic books. Life well spent!"), picking up some Hollywood slack this summer by being one of the few films to exceed expectations.
Comic book guy, meet Steve Schwarzman, proud owner of the worst IPO ever, of 2007. In contrast to the ten largest U.S. IPOs this year, averaging a 14% return in their first month, Blackstone shares have dropped 21% in July, losing $7 billion in market value. Keep in mind that we're talking about IPOs that are larger than $500 million and that Schwarzman still made out like a bandit and got to cockblock Kravis by lowering the PE IPO bar to virtually un-limbo-able depths.
Another Superlative for Schwarzman: Worst IPO [Deal Journal]






Posted by , Jul 30, 2007 9:53AM
But, Aquaman, you cannot marry a woman without gills. You're from two different worlds... (neutron bomb approaching) Oh, I've wasted my life.
Posted by Dan Blue , Jul 30, 2007 10:10AM
I believe Blackstone is a long term stock. Also after this company has never had trouble raising money. The current market trouble is the rescap.
Posted by anonymous , Jul 30, 2007 10:12AM
"I believe Blackstone is a long term stock."
I'm guessing that you're long BX and down 30%?
Posted by , Jul 30, 2007 10:41AM
i can't wait for Rescap today. its gonna be hott
Posted by PBateman , Jul 30, 2007 1:02PM
Keith you could replace "bad IPO" with "great sell price" and view the transaction from Schwarzman's perspective