Blackstone, KKR, Apollo and Carlyle are undervalued on the fact that their portfolio companies in their private equity businesses are undervalued.
It is an open secret that Wall Street equity research analysts model a 0 (zero) for the possible future appreciation value of the companies in Blackstone, KKR, Apollo and Carlyle and other leading private equity managers' portfolio.
Wall Street equity research analysts model out investment skill from Blackstone, KKR, Apollo and Carlyle, that is. Which, according to Wolfteam Ltd.'s projections and estimates is not well founded on past investment performance.
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