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
  • King Of Capital: The Remarkable Rise, Fall, And Rise Again Of Steve Schwarzman And Blackstone
ISBN: 0307886026
EAN13: 9780307886026
Language: English
Release Date: Feb 7, 2012
Pages: 400
Dimensions: 1.1" H x 8.3" L x 5.3" W
Weight: 0.2 lbs.
Format: Paperback
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King Of Capital: The Remarkable Rise, Fall, And Rise Again Of Steve Schwarzman And Blackstone

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The financial establishment-banks and investment bankers, such as Citigroup, Bear Stearns, Lehman, UBS, Goldman Sachs, Merrill Lynch, and Morgan Stanley-were the cowboys, recklessly assuming risks, leveraging up to astronomical levels, and driving the economy to the brink of disaster. In King of Capital, David Carey and John E. 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. This is 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. And since it is sitting on billions of dollars that can be invested at a time when the market is starved for capital, Blackstone is now ready to break out once again. Insightful and hard-hitting, King of Capital is filled with never-before-revealed details about the workings of a heretofore secretive company that was the personal fiefdom of Steve Schwarzman and Peter Peterson. A great human interest story, as well, it tells how Blackstone went from two guys and a secretary to being one of Wall Read More chevron_right

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Book Reviews (13)

4
  |   13  reviews
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4
   Very readable, interesting, but stops in 2011. A new edition is now necessary.
The book is very readable. I went through the 300+ pages in five days of reading on and off, and it was very interesting to finally understand the mechanics behind some of the biggest LBOs ever. I also learned a few financial things I did not know and watched the Wall Street movie with a different mindset that made me understand it better. Having said that, the book was written in 2011-2012 and so is dated. A new issue with the results of the years 2011 -- 2014 would be interesting to analyze the results of the re-structuring that these companies had since then.
 
5
   Great recap of PE (and, in particular, Brackstone's) history!!
If you are looking for private equity help, with many juicy details of the industry's history, great book.
 
5
   Highly Recommended
This book loved. It was really interesting to read about Blackstone and PE's history. I thought the authors did an excellent job, retaining objective throughout the book, by drawing on empirical evidence or investment results to support commonly misconceived notions, while giving us a glimpse into the various personalities in the book.
 
4
   If you like this kind of thing
This might be the kind of thing that you like. The writers clearly had access to Steve S and are much more positive about him than any other source I have seen. The authors are also very positive about private equity in general, which makes the book more like a snub than I would have liked. The actual contents are generally a laundry list of deals, and some of the narrative is fairly insightful, while some just brings one to sleep. To summarize, if you are very interested in private equity business, read this book by all means, otherwise I am not sure it will keep your attention.
 
2
   Will not learn much from it
In the beginning it was interesting, but I kind of got bored at 40% of it. It is just an enumeration of deals made by Blackstone, but won 't learn much from it. It does not have so much internal info.
 
5
   Great Read
As CFO and later CEO of private equity backed companies during the period covered by the book, I found the history accurate, storytelling superb and writing style easy to read. PE is often misinterpreted and the approach is pilloried by those outside the industry. The authors do a great job of explaining how along with the history of Blackstone Partners.
 
5
   Very Illuminating
A primer on how the financial world works on the other side dimension of more known stocks and bonds. I learn how these masters of the universe have orchestrated financial magic to profit for them and investors.
 
3
   Great historical context but
If you want to find your own form one day, especially the quality of writing makes the reading experience a chore at times. The book in particular does not always follow a chronological path and jumps quickly between decades. Historical content 55 :
 
3
   Slightly boring
I read this book after Swatzmans and found them similar in respects. In my view, this one was loaded with too much information and not enough about individuals and their talents.
 
4
   Great Insight into Private Equity
The author does a wonderful job of leading the reader through this story of one of the great private equity players while also diving deep into the world of private equity. I wish the author would have spent a little longer on Mr. Schwarzman's life. Nevertheless, it was fascinating to dig into the story of Blackstone. A few takeaways -- Focus on what you do well. There are always other opportunities and people can capitalize on them very well. It doesn't mean that private equity has certainly a role in the markets, though over time it has changed. If we don 't reinvent ourselves, we're dead - Sachsman - just because you can give someone money, even a lot of it doesn 't make you special. The key is to be able to distinguish yourself from all the other people who throw money around.
 
12