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Blackstone in talks to take big stake in First Eagle Management

Comments

  • ShostakovichShostakovich
    Sucks. I hate it when some outside group gets there nose up under the tent. My fear is that BX will interfere with FE's culture, install their own research team, roll out a bunch of new funds, then turn around and sell it. As a First Eagle share holder, I'm not pleased. True global, "go your own way", deep value funds are hard to come by. Wish the Arnhold family just kept this as their own thing. Maybe Jean-Marie can talk some sense into them.
  • TedTed
    @Shostakovich: "Sucks.", not if you own BX up 0.67% at the open.
    Regards,
    Ted
  • ShostakovichShostakovich
    @Ted...insult to injury is that I used to own BX too ! Unloaded my small position in a fit of profit taking a while ago. Has been up nicely since then. Drat.
  • TedTed
    @Shostakovich: I have a standard rule, never look back once you've sold a position, especially if you made a profit.
    Regards,
    Ted
  • ShostakovichShostakovich
    @Ted: sage advice, my man.
  • varmint
    Owned institution shares of first eagle overseas for more than 10 years nice returns real happy but will be moving on with BX taking over. Lolling for suggestions?
  • BobCBobC
    BX at this point has not said anything about changing things at First Eagle. And changes, if made, might be more window dressing than substantive. First Eagle went through a bunch of management changes in the last 10 years, and management team member Deshpande left SGOVX late last year. Through it all, the firm has been able to retain its focus. I would absolutely give this some time. If there are truly negative happenings, there will be plenty of time to move on.
  • ShostakovichShostakovich
    @BobC: appreciate the input Bob. Thank you. Like a lot of what FE brings to the table.

    Cheers.
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