Blackstone (NYSE:BX) is one of the best managed, least understood companies in today's market. On a personal note, the Company is my largest single holding. My original investment thesis was very simple, management is expert at buying low and selling high. Or to quote the great hockey player, Wayne Gretzky, BX "skates to where the puck is going to be." It is well known that BX has been a major player, first with domestic single family homes and more recently with international homes and domestic office towers. BX's real estate business has grown from $18 billion in 2007 to $81 billion at the end of 2014. Since the end of 2014, BX acquired the Willis (previous Sears) Tower in March for $1.3 billion. In March, BX closed on a $14.5 billion global real estate fund. And last week, BX (with Wells Fargo (NYSE:WFC)), acquired a wide range of commercial real estate from GE (NYSE:GE) for about $23 billion. Read more