Jim Cramer on Taiwan Semiconductor, Netflix, and Other Stocks

5. Blackstone Inc. (NYSE:BX)

Number of Hedge Fund Holders: 58

Cramer discussed Blackstone Inc.’s (NYSE:BX) position post-rate cutting and emphasized the brilliance of the company’s leadership and the effectiveness of its strategies.

“What about Blackstone, the enormous private equity firm that invests in everything from real estate to data centers? The knee-jerk Fed worshippers hear the name Blackstone, they think investments, and to them, any company that’s all about investments is a company that lives and dies by the Fed. If retail sales are too strong, rates shoot up, as they did this morning. These eccentric stooges run from Blackstone. Never mind that Blackstone reported one terrific quarter, one that eventually sent the stock up more than 6%, new all-time high.

In the end, Blackstone is less levered to the Fed and more levered to the brains of its brilliant executives. When you buy shares in Blackstone, which I wanted to do so badly for my Charitable Trust, but didn’t get a chance to, you’re not buying the musings of the Fed chief during a strange, stilted Q&A session with reporters. You’re buying the life’s work of some of the smartest people in the business world. If you remember that, you will indeed profit from it.”

Blackstone (NYSE:BX) is a leading alternative asset management firm, with expertise in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity, and multi-asset class strategies. On October 17, the firm reported its financial results for the third quarter, which showed growth across various segments. Total revenue increased by 5% year-over-year, reaching $2.43 billion, largely driven by an influx of $40 billion in capital deployment.

Additionally, distributable earnings per share rose by 7%, hitting $1.01. The company’s assets under management also reached an all-time high of $1.11 trillion, a 10% increase compared to the previous year. The rising value of its funds further shows the firm’s effective investment strategies and strong market positioning.

For the future, Blackstone (NYSE:BX) management expressed a commitment to expanding into private wealth channels, alongside a focused approach toward infrastructure and credit markets in Asia.