| Back to Home > Bulletin Board > Current Events > Topic: What the money people are betting on... |
Topic: What the money people are betting on...
| Author | Message |
| UGoGirl | Posted – 4/9/2007 9:46:44 AM | show profile Always follow the money... *** While Wall Street eyes Blackstone Group's looming initial public offering with jealousy, investors looking for an edge into learning how one of the world's most-connected money manager's trades can study the holdings of its equity hedge fund. ...For the most part, Blackstone's soon-to-be very rich managers have turned the $1.3 billion fund into a massive wager on the energy sector. ...Blackstone, which is led by Steve Schwarzman and Pete Peterson, had $78.7 billion in assets under management as of March 1, according to SEC documents filed in conjunction with the IPO. ...According to Kailix Advisors' Web site, "Access to high-level contacts at corporate, financial, and public organizations should also support the group's investment activities." "It's like they got off the phone with T. Boone Pickens and said, 'Help us out here. We're starting up a hedge fund. What should we buy?,' " said StockPickr Chief Executive Officer James Altucher, who has written about the fund. He speculated that the diversity of energy bets is really Blackstone's way of wagering on so-called peak oil theory, which holds that the globe's oil supplies are slowly diminishing. With so many bets on the increase in oil - and all energy - prices, the Kailix fund appears to be also anticipating a drop in the value of the U.S. dollar and presumably, a drop in U.S. stock prices. Roddy Boyd |
