Worst. IPO. Ever.

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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]

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