David Carey is senior writer for The Deal, a news service and magazine covering private equity and mergers and acquisitions. Before joining The Deal he was the editor of Corporate Finance magazine and wrote for Adweek, Fortune, Institutional Investor, and Financial World.
John E. Morris,now an editor with Dow Jones Investment Banker, was for many years an assistant managing editor at The Deal in New York and London and before that was an editor and writer at The American Lawyer magazine.
Strippers and Flippers . . . or a New Positive Force Helping to Drive the Economy . . .
The untold story of Steve Schwarzman and Blackstone, the financier and his financial powerhouse that avoided the self-destructive tendencies of Wall Street. 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.
The financial establishment—banks and investment bankers such as Citigroup, Bear Stearns, Lehman, UBS, Goldman Sachs, Merrill Lynch, Morgan Stanley—were the cowboys, recklessly assuming risks, leveraging up to astronomical levels and driving the economy to the brink of disaster.
Blackstone is now ready to break out once again since it is sitting on billions of dollars
that can be invested at a time when the market is starved for capital.
The story of a financial revolution—the greatest untold success story on Wall Street: 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.
Great human interest story: How Blackstone went from two guys and a secretary to being one of Wall Street’s most powerful institutions, far outgrowing its much older rival KKR; and how Steve Schwarzman, with a pay packet one year of $398 million and $684 million from the Blackstone IPO, came to epitomize the spectacular new financial fortunes amassed in the 2000s.
Controversial: Analyzes the controversies surrounding Blackstone and whether it and other private equity firms suck the lifeblood out of companies to enrich themselves—or whether they are a force that helps make the companies they own stronger and thereby better competitors.
The story by two insiders with access: Insightful and hard-hitting, filled with never-before-revealed details about the workings of a heretofore secretive company that was the personal fiefdom of Schwarzman and Peter Peterson.
Forward-looking: How Blackstone and private equity will drive the economy and provide a model for how financing will work.
在图书馆同时借了这本书和《门口的野蛮人》,纯粹是歪打正着。这本书里数次提到《门口的野蛮人》,这本书的副标是The remarkable rise,fall and rise again of Steve Schwarzman and Blackstone.《门口的野蛮人》的副标为The fall of NJR Nabisco.一边是PE的领军人物,一边是食...
评分从2012年2月21日至今(2012年3月19日),断断续续读完了《资本之王》这本书。 从翻译角度而言,可以看出巴曙松是花了较多心思的,从国人阅读习惯方面出发,结合专业性,尽量翻译出该书本质来。 从内容角度而言,该书主要是从黑石集团的历史沿革来反应出国际上尤其是每股私募股...
评分市盈率、市净率等财务指标,在收购一个陌生行业的陌生公司的时候,不够直观,因为在经济周期中,很难判断其是否具有投资价值。 黑石集团更多的是使用 现金流估值。 自由现金流量,就是企业产生的、在满足了再投资需要之后剩余的现金流量,这部分现金流量是在不影响公司持续发...
评分 评分Peterson在Lehman的经历。Peterson had allies within Lehman, mostly bankers, but few of the firm‘s three dozen partners were his steadfast friends.In the 1960s, conglomerates‘ stocks sometimes traded at multiples of forty times earnings—far above the histo...
informative...终于知道blackrock&blackstone bain&bain cap的关系了lolll
评分开始感觉还好,但往后看越来越觉得作者太罗嗦,前期的一些deal写的还有些可以思考的地方,往后就基本都是,Blackstone在这个deal上花了多少钱,失败了,额赔了多少钱,在那个deal上大获成功,cover了之前的损失,云云。没有了让人看下去的兴趣,很遗憾。最终看到16章,本着28原则的说法,这不是我的20%,放弃。
评分一本关于黑石创立者之一Schwartzman修行成资本之王的传记,其实更像是公司传记,包括在各个市场环境下黑石发展的方向和成功或失败的项目。书非常具有可读性,刀光剑影跃于名书锦轴之上。 本身所从事的二级市场虽然属于技术类,但是一直认为,投资是艺术和科学的结合。最近高密度阅读了一些资本市场的书,更加加深了这种看法。一二级市场是融会贯通的,一级市场更是人性化的艺术。不论是股权私募杠杆收购企业并购,中间所经过的大量研究,筹措资金,从中斡旋,战略性合作,分拆资产,精简重组企业,以黑石为代表的一级市场投资者都在扮演着成为企业从一个阶段到下一个阶段衔接的角色。这之中有谋划有权衡,也有着经验累积的人脉和商业头脑。
评分不是很好看。。三星半
评分黑石的小传,也对PE行业相关的player做了介绍。但是对于一些重要case介绍的不多不深,behind the curtain部分基本没有。读到后记发现作者拿到了黑石和苏世民本人不少授权,所以好多话就不方便说了吧。
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