• 20 Oct 2011 at 1:05 PM

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]

7 comments (hidden for your protection)
Show all comments ↓

Comments (7)

  1. Posted by PMCO_sucks | October 20, 2011 at 1:12 PM
  2. Posted by Johnny Tight Lips | October 20, 2011 at 1:12 PM

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

  3. Posted by Guest | October 20, 2011 at 2:02 PM

    Much better picture than last time.

  4. Posted by The Truth | October 20, 2011 at 2:32 PM

    From stone crabs to hermit crabs

  5. Posted by Kegels123 | October 20, 2011 at 3:03 PM

    getting crabs is the NKI

    -Schwarzman

  6. Posted by Cheptemn | April 18, 2012 at 4:10 PM

    check this link, outletlouisvuitton.blog.fc2.com/ with confident

  7. Posted by cheap bookmarking service | September 10, 2012 at 3:40 PM

    En54YU Hey, thanks for the post. Want more.