Blackstone (NYSE:BX) reported annual earnings, and investors were blown away by the company's masterful 2013. In this segment of The Motley Fool's financials-focused show, Where the Money Is, banking analysts Matt Koppenheffer and David Hanson discuss the results, Blackstone's valuation, and the cyclicality of its business.

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David Hanson has no position in any stocks mentioned. Matt Koppenheffer owns shares of The Blackstone Group L.P.. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.