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74th out of 79 books
—
104 voters
King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone
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-t...more
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-t...more
Hardcover, 400 pages
Published
October 5th 2010
by Crown Business
(first published September 29th 2010)
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More interesting to read this as the story about founding a new enterprise. Lots of cold calls and unsuccessful meetings at the beginning - just like any other venture, followed by 20 years of hard work. After two decades of working hard, you get "discovered" by the media, and you are an "overnight success" (20 years in the making).
In that way, basically the same as WalMart, McDonalds, or any other non-VC funded entrepreneurial venture.
Interesting history. Interesting analysis.
The weakest part o...more
In that way, basically the same as WalMart, McDonalds, or any other non-VC funded entrepreneurial venture.
Interesting history. Interesting analysis.
The weakest part o...more
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A nice history of private equity over the last thirty years or so, focusing mainly on Blackstone and Steve Schwarzman. As Blackstone hasn’t gone bust, or been taken over by another firm, there is a lot less drama than other books on other firms, and this book can be pretty slow at times. However, this is also more encouraging in that Blackstone didn’t have idiotic hires and management decisions placing unqualified and untested individuals in positions to do massive damage and then failing to hav...more
The story of Blackstone is the story of the private equity business as a whole, at least in the telling of it from business writers David Carey and John Morris. Private equity, for those who might not be familiar, is a process whereby investment groups search for corporations that are somehow in trouble or, at a minimum, in need of greater efficiencies, invest in them thus taking them ‘private,’ only to reorganize them into entities that can be put back on the market (or sold to another firm) at...more
I have mixed feelings about this book. Some of the content was very interesting. I liked learning about the ideas behind conglomerates, private equity and venture capitalists. I actually found the details behind all of Blackstones deals interesting. What irritated and annoyed me was the author's inability to maintain chronological order. I listened to this as an audiobook, and the constant jumps between the time the deal was done to unrelated events decades later confursed me constantly. Anyway...more
This was an interesting history of the PE industry in general, and Schwartzman/Blackstone in particular. It's not easy to find accurate and fair descriptions of LBOs/PE in the mainstream press, so this book was valuable on that point. It would be interesting if the author had explored some of the views espoused by those less than enamored with the industry (e.g. Warren Buffet) who aren't simply rhetorical straw men (buyouts destroy jobs!), but that is a minor point. The author also did a fairly...more
Good summary of the birth and evolution of the private equity industry (it's as much about the industry as it as about Schwarzman and Blackstone). I found it especially interesting that many of the PE firms' deals turn out to be big busts, but the few spectacular outcomes more than make up for the mistakes and have driven the industry's strong returns over time. Fairly easy, novel-like read.
The reading can get laborious at times, but it is very well-written and detail-oriented. It is NOT focused on Steve Schwarzman as much as I thought. I was expecting a little bit more of a biography of him as well as Blackstone. However, it's really about the the origination and growth of Blackstone. For anyone interested in private equity, this is a must-read because it gives a fantastic overview and history of the industry. Also, if you want to build the next Blackstone (*cough* like me *cough*...more
Super fun read. Very interesting look into the history of private equity, with decent profiling of the larger-than-life personalities involved. The level of detail and context was nowhere near the depth of Barbarians at the Gate though.
A detailed book on the history of Blackstone and the private equity industry. Not the most entertaining read, but great nonetheless.
Good but a bit tedious at times.
The book details how Steve Schwarzman built the Blackstone franchise over the year and how the PE industry evolved from 1985 till now. It has very detailed description for some Blackstone deals.. Schwarzman did excellent job at market timing and this contributes greatly to the firm's success, two examples are that he closed the first fund right before 1987 market crash and made the IPO of Blackstone before the market crash in 2007.
The book is a good one to read if you want to get more insight into private equity, leveraged buyouts and corporate world in general. As for the title I would rename it to just "Blackstone and Private equity". The book is less about Mr. Schwarzman and more about Blackstone private equity dealings and it becomes more prominent during the end of the book. Overall a good book
David Carey and John E. Morris reveal the untold story of Steve Schwarzman and Blackstone, the financier and his financial powerhouse that avoided the self-destructive tendencies of Wall Street.
Listen to King of Capital on your smartphone, notebook or desktop computer.
Listen to King of Capital on your smartphone, notebook or desktop computer.
Great walk through of some of the history of private equity
Great history of PE - relevant, current, focused on Blackstone but also discusses competitors when relevant. Felt a little long winded and disorganized, and I wouldn't read it again.
Good history of Blackstone and the Private Equity world (at least in the US).
learn how to hustle
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