Stock market sell-offs can be challenging. However, they also often offer great opportunities to buy high-quality stocks at lower valuations. One I found too irresistible to pass up was the recent slump in Blackstone's (NYSE: BX) stock price. I took advantage of the more-than-30% sell-off in the alternative asset manager by adding shares to my portfolio. 

Here's a closer look at why I think Blackstone stock is a great buy these days.

Blackstone is the world's largest alternative asset manager. It had $941 billion of assets under management (AUM) at the end of the third quarter. That makes it much bigger than Brookfield Asset Management (NYSE: BAM) and KKR (NYSE: KKR), which have over $750 billion and $491 billion in AUM, respectively. 

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Source Fool.com