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Stephen Schwarzman’s Crab Claw Funds At Risk

Blackstone reported an unexpected third- quarter loss as an 11 percent drop in the value of its buyout holdings forced the reversal of previously booked fees. Economic net income, a measure of earnings excluding some costs tied to the firm’s initial public offering, showed a loss of $341.9 million, or 31 cents a share, compared with a profit of $339.3 million, or 31 cents, a year earlier…“The third quarter presented extremely challenging market conditions, dominated by risk aversion and volatility,” Schwarzman said in today’s statement. “Our earnings were not immune to the sharp downward trajectory of global markets.” [Bloomberg, related]

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7 Responses to “Stephen Schwarzman’s Crab Claw Funds At Risk”

  1. Johnny Tight Lips says:

    So cool! Can you photoshop my head on Mr. T's body?

  2. Guest says:

    Much better picture than last time.

  3. The Truth says:

    From stone crabs to hermit crabs

  4. Kegels123 says:

    getting crabs is the NKI

    -Schwarzman

  5. En54YU Hey, thanks for the post. Want more.