Blackstone: the economy will need a lot of time to recover
Blackstone investment company with assets of $ 545 billion reported a net loss in the first quarter of 2020 of $ 1 billion.
During the reporting period, Blackstone's investment portfolio decreased by 21%, mainly due to a drop in assets related to the cost of oil. Without them, the drawdown would be 2 times less than only 11%.
At the moment, Blackstone is outside the market and occupies the position of observer. As explained by the president of the fund, Jonathan Gray, we do not believe in a quick recovery of the stock market under the V-shaped scheme and expect the economy to need long-term rehabilitation.