Blackstone's Stunning Outperformance Showcases Why Investors Continue Flocking to Its Platform
Blackstone (NYSE: BX) is a phenomenal investor. The company showcased its prowess last year. While it was one of the worst years for investors in decades, Blackstone's clients saw differentiated results.
CEO Steve Schwarzman highlighted the company's differentiated results on its fourth-quarter conference call. Here's a closer look at how much better its alternative investment funds performed compared to the public stock and bond markets. Those stunning results should lead investors to give it more of their money to manage in the future, which should grow the firm's value for shareholders.
Schwarzman led the call by noting that "2022 represented the most challenging market environment since the global financial crisis." Central banks aggressively fought inflation, which spiked to the highest level in decades. The CEO pointed out, "In the United States, we saw the highest level of inflation since 1981. Federal funds rate here rose from basically zero at the start of the year to 4.5%, the largest increase in 50 years."
Source Fool.com
