Jim Cramer Says He Would Avoid Blue Owl and Prefers Blackstone

Blackstone Inc. (NYSE:BX) was among the stocks Jim Cramer commented on as he advised investors on how to take advantage of Wednesday’s market rotation. Cramer discussed the stock while explaining how doomsayers missed the mark on private credit. He said:

How about the gains in the brokerage and private equity stock groups that have been shelled over worries about their private credit underwritings? This morning, Goldman Sachs reported only 3.24% of its investors chose to exercise the right to get out of their funds this month. Goldman’s allowed for 5% cashiering. I think this… [is] a sign that the private equity stocks are at last out of the woods. In short, the move is real because the narrative of private credit chaos and destruction has proven to be phony.

Alright, that said, I’d still avoid Blue Owl; too risky. Go buy Blackstone instead. This scare, pretty much made up by the media, by the way, led to billions of dollars in losses for every soul who was involved in this stuff… Looking back, it’s hard to believe how wrong the doomsayers were.

Blackstone Inc. (NYSE:BX) manages alternative assets, specializing in private equity, real estate, hedge fund solutions, and credit strategies.

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