“Has anyone done the math on this China/Blackstone deal?” our international investing guide, Christopher Hancock, asked after reading yesterday’s 5.
In classic form… on the phone w/ Hong Kong, typing an e-mail, chugging his coffee, and punching the ol’ calculator all at once… Christopher managed to pass this along: “China has $1.2 trillion in forex reserves… and those reserves are growing at about $20 billion a month.”
“China’s $3 billion investment in Blackstone is a minor ripple. They’ll make that up in half a week!” Christopher shouted. “It’s all for PR ahead of trade talks… a symbolic gesture at most.
Compared to the average Joe making 50k a year, this would be less than a $500 investment. Is that what you would call “putting skin in the game”? “It's a pretty cheap bribe if you ask me,” Christopher said.
In classic form… on the phone w/ Hong Kong, typing an e-mail, chugging his coffee, and punching the ol’ calculator all at once… Christopher managed to pass this along: “China has $1.2 trillion in forex reserves… and those reserves are growing at about $20 billion a month.”
“China’s $3 billion investment in Blackstone is a minor ripple. They’ll make that up in half a week!” Christopher shouted. “It’s all for PR ahead of trade talks… a symbolic gesture at most.
Compared to the average Joe making 50k a year, this would be less than a $500 investment. Is that what you would call “putting skin in the game”? “It's a pretty cheap bribe if you ask me,” Christopher said.
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