10 Stock Predictions That Jim Cramer Got Right Again

9. Blackstone Inc. (NYSE:BX)

Number of Hedge Fund Holders: 81

In that older segment, a caller voiced concern over Blackstone Inc. (NYSE:BX) after a few months of underwhelming stock performance. Cramer acknowledged the market weakness in the private equity sector at the time, but still believed Blackstone remained a high-quality long-term hold. He said:

“The stock does not act well… That said, I know that there’s value there and I think you have to be willing to recognize that this stock could be down 10%, but the value continues. Jonathan Gray is doing a great job. They own a huge number of companies… they own a data center business that is just second to none frankly. So I say hold on to it but be prepared… we’re in a rocky moment for private equity right now.”

Cramer called it a long-term hold, and the stock rewarded him with a +16.61% gain.

Blackstone Inc. (NYSE:BX) is one of the world’s largest alternative investment firms, managing assets across private equity, real estate, credit, and hedge fund strategies.

The firm recently announced the acquisition of a utility company and Cramer had this to say about it in late May:

“We know Blackstone has a lot of data centers. We know TXNM is in the area with a lot of data centers. I still think this is motivated by the need to have cheap power. Although remember, they are not a generator.

“I think it just a great acquisition. I think all the companies that are in the business of low power, low cost power, which is in say Texas, good place, it’s a great business to be in. And John Gray who runs Blackstone, knows that this is just a, that their own data center company might be worth the price of Blackstone.”