Blackstone (BX) -- the best short on the street

Today's volatility is extraordinary. It is times like these when shorting becomes a necessary strategy. Anyone can come up with a list of shorts -- and on down days, they are mostly right. But there is one that has broken all records as a short and should be on everyone's list.

It should come as no surprise that Blackstone, the private equity buyout group, which went public on June 22 to great acclaim is now one of the least attractive long positions on the street. It's set share price of 31 rose to 35 on its first day. Now, two and a half months later, it is at its low at 22, a 37 percent decline. And, 22 is not the end of its ride down. Just look at the charts. It hardly moves up on strong days and always goes down hard on down days. Shorts are risky in almost all instances, but this one is abot as good as they get.

If you want to sleep well during these highly volatile days, short BX and enjoy. It is a terrible stock.