Blackstone's (BX) private equity strategies are penetrating the retail market, explains Bryan Engler, Kovitz Investment Group. He says Blackstone is exposed to short duration high demand real estate for yield, and exposed to secular growth tech with real cash flows for more traditional private equity. This creates a barbell approach. Blackstone beat on EPS and revenue this morning in the pre-market. Next he talks about his stock pick Visa (V) and believes it still has a moat. Tom White explains his bullish call calendar trade on Blackstone and a neutral to bullish short put on Visa.