Steve Schwarzman swung his fists at Obama a number of times at his speech at a Goldman Sachs conference on Tuesday. His upcoming move to Europe (Paris) is just the knockout punch.The Blackstone CEO openly chastises the direction the country has taken in the last two years (the wrong one, according to him), so he’s leaving the country and taking Blackstone’s money and top people – Blackstone’s President is in Brazil right now – with him.
“Which should tell you a little bit about the way the world is headed,” he told the audience.
But don’t take his sarcasm for pessimism.
“At least half the world is doing really well,” he said at the Goldman Sachs U.S. Financial Services conference on Tuesday.
His investment ideas about the Euro zone are as follows, based on his speech:
- He likes Irish real estate (because it’s cheap – “They barely know what they own,” he said), Scandinavia and India (two “promising markets”)
But he hasn’t bought yet – he’s waiting until it gets really ugly first:
- “As we look at the current situation in Europe, we’re basically waiting to see how beaten up people’s psyches get, and where they’re willing to sell assets.”
- “You want to wait until there’s really blood in the streets.
- “You’re better off paying 10 per cent more into a healing situation than trying to pick bottoms.”
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