Word comes this week that China is investing 3 Billion in the Blackstone Group ahead of its IPO. Now private equity will certainly run its course amdn many of its players will fade away. Yet, the strongest survive. Expect the same from Blackstone. Expect also that they will get into other areas aside from private equity. With the talent they are drawing don’t be surprised if it becomes the next Goldman Sachs.
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With Private Equity buying everything in sight , ie today’s Goldman acquistion of Alltel,it is time to start compiling a list of what companies to but when these companies are relaunched as IPO’s sometime in the future. Now, not all of these, will again see the public market and not all of these if they become IPO are worth buying. However, IPOs are always a good way to make money so get the list ready for the good ones that become public again.
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It appears that the stock market has definteley lifted the pause button when it was first triggered when the NASDAQ hit its high in March of 2000. The market no doubt remains and will probably remain strong as private equity plays its hand buying up large companies across the spectrum. However, look to the post crash of 1987. Who owned stock of IBM when Gerstner took over. Yes, the real money to be made is when there is tru panic in the streets. Peter Lynch used to say by the time you get into any rally about 80% is captured already. I think that is pretty true. Have some money for a rainy day. For it will rain one day and that is the real opportunity.
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Expect more cross european and cross border deals to take place with the kickoff of the ABN/ Barclays deal. Expect Bank of America to be a major player. Expect also mutiple megers between european banks as already evidenced by Capitalia and Unipol deal just announced.
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Today it was announced that Odyssey Marine located an English shipwreck worth an estimated 500 million dollars. You can expect more from Odyssey and others. The technology is there now to find multiple shipwrecks with sonar, gps, etc. Buy Odyssey, the only publicly traded salvage company, and expect more of these finds from it and others. Mel Fisher used to say ” Today is the day.” I expect “Tomorrow will be the day”too.
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