king of capital: the remarkable rise pdf
It is a walk-through the history and trends in the financial and capital markets in the US from the late 70's through the 2000's. I knew little about the subject. Strippers and Flippers . CHAPTER 1 The Debutants"More Rumors About His Party Than About His Deals,” blared the front-page headline in the New York Times in late January 2007. Its capital Babylon was beautifully adorned by king Nebuchadnezzar, who erected several famous buildings. Angutara Nikaya, a Buddhist scripture mentions 16 great kingdoms or Mahajanapadas in the beginning of the 6 th century BC in India. To be fair, I probably wouldn't have read this book if I wasn't starting a private equity internship in a few days. Certainly demonstrated the zero tolerance to mediocrity in performance-a shame not more evident today in business. While vultures pursued changes in companies to make money out of trading stock (and in most instances fighting against management), buyout firms were making money out of buying and selling companies. 2340 Ratings. This book provides an overview of the private equity industry. King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone. Insightful story about Blackstone and its main characters. Our partners will collect data and use cookies for ad personalization and measurement. The King of Capital chronicles the business career of one man and his company in the context of a variety of developments in the financial world over the past 30 years. Schwarzman personally had taken home $398 million that year. More interesting to read this as the story about founding a new enterprise. Now, not only have Blackstone and a small coterie of competitors wrested control of corporations around the globe, but they have emerged as a major force on Wall Street, challenging the likes of Goldman Sachs and Morgan Stanley for dominance. When Blackstone’s shares began trading on June 22 they soared from $31 to $38, as investors clamored to own a piece of the business. Lots of cold calls and unsuccessful meetings at the beginning - just like any other venture, followed by 20 years of hard work. Would have liked to know more about the man. King of Capital has sold more than 80,000 copies in English and over 100,000 in the Mandarin edition. Really insightful and really enjoyed it. For anyone interested in private equity, this is a must-read because it gives a fantastic overview and history of the industry. Do you believe that this item violates a copyright? This journey through the world of buy-outs and private equity and in particular Blackstone and it's co-founder and longtime driving force Steve Schwarzman, is comprehensively told by the authors David Carey and John E Morris, both experienced financial journalists. dione. Promotions are applied when you make a purchase. Really well written and thoroughly researched book into the making of M&A and the buyout firms. al. The financier’s lavish holiday parties were already well known in Manhattan’s moneyed circles. Of the $7.1 billion Black-stone raised selling 23.6 percent of the company to public investors and the Chinese government, $4.1 billion went to the Blackstone partners themselves. What a gripping read! Great paperback book, and perhaps gives a real, unpolished insight into the Blackstone story compared with the self penned founders autobiography version I have also read. I loved it. I have personally seen both these scenarios play out but suffice it to say that too much of greed is their undoing as has been seen time and time again in financial markets. Copyright © 2020 EPDF.PUB. It's actually about the past thirty years of private equity, including some lengthy sections on the ... King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve ... King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone. King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone Author: David Carey | John E. Morris 230 downloads 1919 Views 784KB Size Report Some of these items ship sooner than the others. A good read for all of those who are in the business world and who aren't well versed with the world of Private Equity. Inside the cavernous armory hung “a huge indoor canopy . The wealth and size of investments is repulsive and it seems success is measured by hard cash and nothing else. King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone. Submit your email address to receive Barnes & Noble offers & updates. You can view Barnes & Noble’s Privacy Policy. Occasionally, I found myself unable to process the nuances of different financial trends, but generally it was good to come to gain a basic understanding of the pros and cons of private equity and leveraged buyouts, and to recognize what is going on at the high m. The King of Capital chronicles the business career of one man and his company in the context of a variety of developments in the financial world over the past 30 years. The IPO took place amid a financial revolution in which Blackstone and a coterie of competitors were wresting control of corporations around the globe. This shopping feature will continue to load items when the Enter key is pressed. "[King of Capital] ranks as one of the most even-handed treatments of the industry." A history of Blackstone that focused on the deals and their outcomes and not so much on Schwarzman, Petersen, et. For a while in 2006 it felt like private equity would buy up the universe. Like many Americans, I long had no idea what private equity actually was. Be the first to ask a question about King of Capital. It's actually about the past thirty years of private equity, including some lengthy sections on the ... Vollständige Rezension lesen, The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone. Your recently viewed items and featured recommendations, Select the department you want to search in. Detailed outlook of Blackstone‘s road to success. For his birthday, he decided to top that, taking over the Park Avenue Armory, a fortified brick edifice that occupies a full square block amid the metropolis’s most expensive addresses. To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. JPMorgan Chase soon shed the private equity subsidiary that had bid on the drug company and Credit Suisse barred its private equity group from competing for large companies of the sort that Blackstone, TPG, and Kohlberg Kravis target. Insightful story about Blackstone and its main characters. King Hammurabi and Šamaš Capital of the stele with the Laws of Hammurabi (Louvre) The Babylonian Empire was the most powerful state in the ancient world after the fall of the Assyrian empire (612 BCE). An expose into the fascinating world of the PE/LBO firms ... An expose into the fascinating world of the PE/LBO firms of the 1980's, and the birth of the "king" of them all. I would recommend it to any finance major or finance enthousiast. Once again Brother Ronan MacAlasdair will be called upon to defend the Faith in a desperate attempt to hold onto the ... Today the classics of the western canon, written by the proverbial dead white men,” are ... Today the classics of the western canon, written by the proverbial dead white men,” are This journey through the world of buy-outs and private equity and in particular Blackstone and it's co-founder and longtime driving force Steve Schwarzman, is comprehensively told by the authors David Carey and John E Morris, both experienced financial journalists. I went into this book thinking it would be about Blackstone [as the title might suggest]. Despite the impressive wall around Jericho, God's people defeated the city without a shovel or Interesting history of Blackstone...a little preachy in the defense of private equity. Where buyout firms had once been supplicants of the banks they relied on to finance their takeovers, the banks had grown addicted to the torrent of fees the firms were generating and now bent over backward to oblige the Blackstones of the world. By 2007 private equity was behind one of every five mergers worldwide and there seemed to be no limit to its ambition. It's a compelling book to read for someone like that and who has an interest in finance. Financial journalists David Carey and John Morris walk us through the making of Blackstone while at the same time giving the reader a history of the PE business. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. After viewing product detail pages, look here to find an easy way to navigate back to pages that interest you. Even after the Babylonian Empire By the end of the 80's syndicated loans replaced junk bonds as the main source of financing buyout activities. The journey of Blackstone, one of the worlds leading PE firms, over the last 3 plus decades is a good way to know and understand as to how various forms of financing have evolved. Amazon.com: King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone (9780307886026): Carey, David, Morris, John E.: Books Blackstone, despite its vast industrial and real estate holdings, had a mere 1,000 employees and its books were private until it went public. . In a telling episode in 2004, the investment arms of Credit Suisse First Boston and JPMorgan Chase, two of the world’s largest banks, made the mistake of outbidding Blackstone, Kohlberg Kravis, and TPG for an Irish drugmaker, Warner Chilcott. Surprisingly good amount of detail on specific LBO profits, IRRs etc. It also analyzes reviews to verify trustworthiness. In King of Capital, David Carey and John Morris show how Blackstone (and other private equity firms) transformed themselves from gamblers, hostile-takeover artists, and ‘barbarians at the gate’ into disciplined, risk-conscious investors while the financial establishment—banks and investment bankers such as Citigroup, Bear Stearns, Lehman, UBS, Goldman Sachs, Merrill Lynch, Morgan Stanley—were recklessly assuming risks, leveraging up to astronomical levels and driving the economy to the brink of disaster. The book has also been translated into Japanese, Korean, Russian and Turkish. Here is an excerpt from Value and Opportunity‘s book review of King Of Capital: The Remarkable Rise, Fall, And Rise Again Of Steve Schwarzman And Blackstone by David Carey followed by a description from Amazon.. It is a walk-through the history and trends in the financial and capital markets in the US from the late 70's through the 2000's. Intoxicated by rising pension allocations and a tidal wave of credit, PE companies acquired anything in their sight. Blackstone, Kohlberg Kravis Roberts and Company, Carlyle Group, Apollo Global Management, Texas Pacific Group, and a half-dozen others, backed by tens of billions of dollars from pension funds, university endowments, and other big investors, had been inching their way up the corporate ladder, taking over $10 billion companies, then $20 billion, $30 billion, and $40 billion companies. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. It also delivers some fun details about many of the now-famous Wall Street players that did tours of duty at the firm. King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone Paperback – Feb. 7 2012 by David Carey (Author), John E. Morris (Author) 4.4 out of 5 stars 230 ratings #1 Best Seller in Private Equity.
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