King of capital pdf

The Platform Delusion. Jonathan A. The Startup Way. The Oz Principle. Sutherland and Jeff Sutherland. Everybody Matters. Raj Sisodia and Bob Chapman. Only the Paranoid Survive. Andrew S. Money and Power. Guardians of Prosperity. Richard X. Good Strategy Bad Strategy. Richard Rumelt. Mob Rules. Louis Ferrante. Final Accounting. Jennifer Reingold and Barbara Ley Toffler. Unlocking the Customer Value Chain. Greg Piechota and Thales S.

The Last Tycoons. William Cohan and William D. Related Articles. Looking for More Great Reads? Download Hi Res. Be the first to know! And go from well-read to best read with book recs, deals and more in your inbox every week.

We are experiencing technical difficulties. Please try again later. Today's Top Books Want to know what people are actually reading right now? DMCA and Copyright : The book is not hosted on our servers, to remove the file please contact the source url. If you see a Google Drive link instead of source url, means that the file witch you will get after approval is just a summary of original book or the file has been already removed.

Loved each and every part of this book. I will definitely recommend this book to business, economics lovers. Your Rating:. Your Comment:. Morris that those same "experts" also rated the "top tranche" of sub-prime mortgage debt, AAA They also said "it's a new economy". They're never right about anything, so don't bother deferring to them.

Just reason through with your own logic and analysis. The problem with LBO structures is the L - leverage. If they can come up with the investment money on their own, then so be it, but leveraging up to purchase a business, which they take control of, refinance, and have the business pay off their leverage that's not "creative destruction", it's just "destruction".

If they can raise the money to buy the companies, then go for it! More power too them. If they want to take on leverage, it should be on their own balance sheet, not on the company that they're taking over. 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. For me as a novice to this topic, this book was mostly informative. 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 money levels that most of us cannot begin to fathom.

The book is not an expose nor does it have an axe to grind. It almost completely avoids talking about the personal lives of Schwarzman and others, except as it directly influences the story, and in the end, I came away with a basic level of respect for the primary subject.

The author does not seem sympathetic to Schwarzman, but he also does not try to make Schwarzman into anything more than an incredibly successful private equity financier. While talking about the bank crashes of , the author stays on a neutral footing, and resists the temptation to launch into any attacks or diversions from his main story. That main story is this, how starting in the s, several companies began to use private equity to engineer humongous mergers and buyouts of company after company, producing gargantuan levels of profit for the investors, which in some cases probably included my own state pension plan.

The story is told that again and again these buyouts had good results for the companies that were overtaken, and that while jobs were almost always lost in the short term, new jobs were usually created in the long term.

Private equity was able to infuse capital into companies in a way that allowed the company to reorganize and attain financial viability.

Learning of these realities makes it clear why financial giants who makes hundreds of millions of dollars a year are able to influence American politics with that money. There is a theme of greed here, but because the author stays factual, it doesn't take a front seat. Tyler Storm. Pretty good and thorough history of Blackstone Wish the author went into more detail about their investments.

He just kinda gives it a cursory mention and some global details here and there. Really wish I could learn how the firm did a turnaround of their various investments. They invested in cyclical companies at the right time or turnaround companies that were undervalued.

The author gives some mention but I really want to find out what exactly they did.