King of Capital

  • by John E. Morris, David Carey
  • Narrated by George K. Wilson
  • 14 hrs and 42 mins
  • Unabridged Audiobook

Publisher's Summary

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 Street's most powerful institutions---far outgrowing its much older rival KKR---and how Schwarzman, with a pay packet one year of $398 million and $684 million from the Blackstone IPO, came to epitomize the spectacular new financial fortunes amassed in the 2000s.

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What the Critics Say

"[King of Capital] ranks as one of the most even-handed treatments of the industry." (Bloomberg Brief: Merger)

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Customer Reviews

Most Helpful

Can't make it through

Would you try another book from John E. Morris and David Carey and/or George K. Wilson?

I'm not sure who thought it would be a good idea to have the reader for this book, but it was an incredibly bad idea. This will an audible first for me, but I've decided to not continue wit this book because I just can't follow the reader. He speaks in an incredibly slow cadence like he's telling some kind of fairy tale. He should not be narrating business books.


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- Mike Martin

Great Story Ruined by Monotone Reading

What did you like best about King of Capital? What did you like least?

I think the story of Blackstone and more broadly LBOs and the evolution of finance is a great story and very interesting. The writing itself is crisp but sometimes veers off.

The largest issue I have with this is the narration. While the narrator is talented, I think he is ill equipped for this kind of book. He has a monotone voice that drones along from development to development. I find it so bad that it is difficult to get through the book.


What did you like best about this story?

The subject matter and the perspective.


Who would you have cast as narrator instead of George K. Wilson?

Anyone.


Do you think King of Capital needs a follow-up book? Why or why not?

No I think it does a fine job of covering the subject thus far.


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- Marc

Book Details

  • Release Date: 12-09-2010
  • Publisher: Tantor Audio