King of Capital
King of Capital
David Carey
Anthony Pompliano
[One of the] best books I read in 2017. - Anthony Pompliano
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King of Capital

King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone

David Carey
By
David Carey
4.0
4669
ratings on Goodreads

In the high-stakes world of finance, where the line between heroes and villains blurs, "King of Capital" by David Carey delves deep into the empire of Blackstone and its co-founder, Steve Schwarzman—a figure synonymous with extraordinary wealth and influence. Carey, with meticulous research and insider insights, uncovers the journey of a firm that transformed from the archetype of leveraged buyouts and hostile takeovers to a beacon of disciplined investment and economic contribution. This narrative not only charts the meteoric rise of Blackstone from its humble beginnings to its status as a Wall Street titan but also challenges the reckless risk-taking that characterized much of the financial establishment during the tumultuous years leading to the global financial crisis. "King of Capital" paints a controversial yet compelling picture of a sector often vilified for its cutthroat practices. Carey and co-author John Morris ask us to consider a different perspective: Can entities like Blackstone, once seen as "barbarians at the gate," evolve into forces of positive economic momentum, driving growth and stability in an unpredictable market? Through the lens of Blackstone's evolution and its battles for dominance against giants like Goldman Sachs and Morgan Stanley, Carey crafts a narrative rich in human interest, exploring not just the mechanics of financial maneuvering but the very human aspirations, rivalries, and dreams that fuel this high-powered world. This book is not just a story of financial success; it's a window into the transformation of an industry and the redefinition of power and success in the modern world.

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Released
2010
1 Jan
Length
400
Pages

1

recommendations

recommendation

[One of the] best books I read in 2017. - Anthony Pompliano
As Reagan’s first budget director, Stockman, a former two-term congressman from Michigan, was the point man for the supply-side economics the new administration was pushing— the theory that taxes should be lowered to stimulate economic activity, which would in turn produce more tax revenue to compensate for the lower rates.With his wonky whiz-kid persona, computer-like mental powers, and combative style, he browbeat Democratic congressmen and senators who challenged his views. But he soon incurred the wrath of political conservatives when he confessed to Atlantic reporter William Greider that supply-side economics was really window dressing for reducing the rates on high incomes. Among other acts of apostasy, he called doctrinaire supply-siders “naive.” The 1981 article created a sensation and prompted Reagan to ask him over lunch, “You have hurt me. Why?” Stockman famously described the meeting as a “trip to the woodshed.” Though the president himself forgave him, Stockman’s loose lips undercut his power at the White House, and in 1985 he left government to become an investment banker at Salomon Brothers.
— David Carey, King of Capital

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