portfolio portfolio joins the roundtable, first, barron's big interview with black stone ceo steven scw scwartzamann in a funny way it's described as a negotiation but ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ jack: private equity investors have been masters of wall street universe in recent years, earlier i spoke with schwartzmann, what it takes, lessons of the pursuit of excellence. >> one of the themes that we run through the show is disruption as we think even though it's a buzz word now actually the market hasn't fully priced in some of the changes. so you made a recent deal to buy what about 60 million square feet of warehouse space for $5.9 billion, sounds like a purchase but in fact you see changes valuable. >> it's the amazon spread and it will spread wide and spread deep and what it's going to do is disrupt regular retail stores, so we basically sold the malls that we owned and what we decided is that the best way to play this in our real estate business was to buy warehouses, so we started buying in 2010,ic we've been the largest buyer in the world since that time, could be second in certain markets, and it's be

portfolio portfolio joins the roundtable, first, barron's big interview with black stone ceo steven scw scwartzamann in a funny way it's described as a negotiation but the negotiation is within china itself ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ pain happens. saturdays happen. aleve it. aleve is proven better on pain than tylenol. when pain happens, aleve it. all day strong. no, just a sec. what would it look like if we listened more? could the right voice, the right set of words, bring us all just a little closer? get us to open up? even push us further? it could, if we took the time to listen. the most inspiring minds, the most compelling stories. download audible and listen for a change. hour 36 in the stakeout. as soon as the homeowners arrive, we'll inform them that liberty mutual customizes home insurance, so they'll only pay for what they need. your turn to keep watch, limu. wake me up if you see anything. [ snoring ] [ loud squawking and siren blaring ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ this is the family who wanted to connect... to go where they could explore and experience adv