“Is it a miracle when LeBron James scores 37 points? Not really, he is the best basketball player. The guy scores more than anybody. Each shot is unique, but over time, some teams win and they score and that’s like performance fees for us.” [...] But as he responded to investors’ questions, Mr. Schwarzman took offense at the suggestion — put to him by the conference moderator — that Blackstone’s profits may not be repeatable. “I don’t accept that observation or that conclusion, which is based on nothing, actually,” he said, a slight edge creeping into his voice. “It’s the same thing as a basketball player who is great, taking a shot and never going to the basket again. That’s not how it works.” [Dealbook]
Stephen Schwarzman Supposedly Not Interested In 'Mommy Porn'
50 Shades of Grey is the first book in a trilogy about the relationship between a recent college graduate, Anastasia Steele, and a "young business magnate," Christian Grey, the former being employed as a sex slave of the latter, who has a room in his apartment called the "Red Room of Pain," where his sadomasichistic directives go down. The books have been dubbed "mommy porn" and are apparently huge among married women over thirty who are using the "tantalizing tale to spice up their sex lives." Naturally, the subject came up last night at a party attended by some billionaires and their wives. Stephen Schwarzman [attended the event] with his wife, Christine Schwarzman, who said she's just finished reading the novel "50 Shades of Grey," which is "definitely not for Steve," who likes the thriller writer Lee Child. While the Blackstone CEO maybe be (allegedly) too good for billionaire BDSM tales, we're pretty sure most of his peers have found themselves unable to put the page-turners down and don't care who knows it. To that end, we've sent out detailed questionaires to top CEO and hedge fund managers to find out how many other "out and proud" readers of erotic literature there are among Wall Street's elite. Apparently Jimmy Cayne went through the trilogy in "less than a week." Bill Cunningham on Borrowed Dresses, Charity Galas, Astor [Bloomberg]