Don't Act Like You Weren't Begging For It


Blackstone closed yesterday below $20. Right this second, it's at $18.45. I bet a lot of you are saying to yourselves, "Yeah, and? No big d." That's because you're one dimensional thinkers. This is a big d, for four* reasons. 1. Blackstone IPO looks more and more like the physical manifestation of the top tick on the private equity bubble. 2. The Chinese, pissed at buying 8.7 percent of this garbage, now have yet another reason for an arms race with the U.S. 3. It means the follow-up to the bukkake party of IPOs was a bust, and all those yelling "Buy shares on my face! Buy shares on my face!" last spring are now suffering from PCD (that's Post Coital Depression** to those who, I have no idea why, don't know). 4. CRAB HANDS, THE GRAPHIC.
Blackstone shares drops below $20 [Reuters]
*The first three don't really count, I just like the build-up.
**NB: That's a Hahn-ism you're reading right there.