« Does Japan’s Nuclear Catastrophe Point to the End of Economic Growth as We Know It? | Main | Rethinking Portfolio Management and Measurement Based on Clients’ True Financial Goals »


Book Review: King of Capital

Click to Print This Page

King of CapitalKing of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone, by David Carey and John E. Morris, recounts the history of one of the financial industry’s most successful firms and one of the current generation’s top financiers. It also offers an education in the world of deals, and in coping with management challenges.

Particularly instructive is the chapter titled “Help Wanted,” which focuses on president and COO Tony James and his initial review of the firm. James concluded that much of Blackstone’s investment success was due to market timing, that the firm fell behind its peers in managing operations, that it was run like a small business, and that its culture was of “freewheeling personalities.” This analytical process highlights the importance of a penetrating and objective analysis of an organization by top management. The takeaway for readers is to get nervous, work on your resume, and network, if your employers are ignoring this process.

The book also discusses the importance of a well-conceived and well-executed diversification plan, particularly in a cyclical and volatile industry segment. Today, Blackstone is a major player in alternative investments, as well as in private equity.

King Of Capital is as engrossing as it is instructive. You’ll enjoy it while learning.

–Bill Hayes

FT Press Discount

Related Posts Plugin for WordPress, Blogger...


Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.


Post a comment

Comments are moderated, and will not appear until the author has approved them.


NYSSA Job Center Search Results

To sign up for the jobs feed, click here.


NYSSA Market Forecast™: Investing In Turbulent Times
January 7, 2016

Join NYSSA to enjoy free member events and other benefits. You don't need to be a CFA charterholder to join!


CFA® Level I 4-Day Boot Camp

Thursday November 12, 2015
Instructor: O. Nathan Ronen, CFA

CFA® Level II Weekly Review - Session A Monday

Monday January 11, 2016
Instructor: O. Nathan Ronen, CFA

CFA® Level III Weekly Review - Session A Wednesday

Wednesday January 13, 2016
Instructor: O. Nathan Ronen, CFA

CFA® Level III Weekly Review - Session B Thursday
Thursday January 21, 2016
Instructor: O. Nathan Ronen, CFA

CFA® Level II Weekly Review - Session B Tuesday
Thursday January 26, 2016
Instructor: O. Nathan Ronen, CFA