blackstone's chair and ceo steve schwartzman addressing those recent concerns. >> he's making comments right now at the goldman sachs u.s. financial services conference. in those remarks he addressed some of the blackstone real estate investment trust and some of the concerns and headlines over the last couple of days of the firm putting up gates or halting some large withdrawals this is what schwartzman had to say at the conference, talking a little bit about aggressive fed action starting to impact the economy. also that the consumers have a lot of income, also interest rates go down, real estate will be worth much more also that people in the blackstone real estate investment product are actually doing very well. schwartzman product breit product some of the best we've done and that redemptions from the fund came from asia and investors are happy generally with this b reit product coming enconnection blackstone had so call gates put up on products they have in order to limit the withdrawals to avoid firesale conditions for assets some of those investors still with the funds so we'll

i think steve schwartzman is this very very smart man. don't think that blackstone, there's any issue with the underlying quality of the real estate they own. as a matter of fact if you look at the real estate i think it's priced very attractively. this has more to do with the fact that the whole world is in this liquidity crunch. the whole world is over-leverag ed. the investors in asia are need ing liquidity. they invested in bitcoin and a lot of things that are tanking and they need liquidity so blackstone, who has to reprice this portfolio, now that interest rates are up, they know that people are going to see the reprice is not going to be that attractive and they know that people might run for the doors, so they're shutting the gate. very concerning. stuart: very concerning indeed, yeah, got it. jeff good stuff. thanks very much sir. check those futures, please. it's monday morning here is how the market is likely to open. i see some red ink, dow down maybe 250. coming up, elon musk says more smoking guns will be revealed about twit

citigroup, blackstone at 12:20, steve schwartzman will be on our air talking about that overall, while negative yesterday, most of the time, i heard what i would call cautious but not gloomy comments from this goldman-sachs conference. american express talked about record travel bookings the consumer was strong. the bank of america ceo talked about travel strong. he did say the rate of growth for the consumer was slowing a little bit, but i couldn't call that overly gloomy ali bank said they're expecting soft to mid landing on the economy. pnc said loan demand was softening but they forecasted a mild recession capital one said the consumer was in a strikingly good place that's a quote so, overall, i would call this cautious but not overly pessimistic. as for where we are right now, the powell mini-boomlet that we had, we went to 4,100 on powell last week, all completely back down again, and a lot of people felt there was no particular reason for us to rally on the powell comments last week. carl, back to you. >> bob, thanks quick reminder, you can get in on the cnbc investor club with

you know, yesterday, your company's ceo, steve schwartzman, at a conference said that he finds the concernsver breit "baffling." i'm curious, do you share that bafflement, and if so, what is it that people who are concerned about don't fully understand >> well, david, thanks for having me. and definitely, i share steve's bafflement here. what's happened has been very surprising, given our performance. and i think it's really been a disconnect between performance and fund flows, and what i think would be helpful to make -- to help people understand sort of this disconnected reality is to go back in time a bit. we set up breit six years ago with the goal of delivering great performance to individual investors and private real estate led by our world-class franchise. and that is exactly what's happened we've delivered 13% net to our customers over that period, three times the public reit index. we've done it because we've had the right portfolio positioning, 70% in the sun belt states, which are growing really rapidly, 80% in logistics and rental housing, the fastest-growing sectors in real es