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Item Information   Holdings     Summary     More Content       More by this author     Hooke, Jeffrey C., author.     Subjects     Private equity -- United States.     Finance -- United States.     Browse Catalog     by author:      Hooke, Jeffrey C., author.       by title:      The myth of private ...         MARC Display

The myth of private equity : an inside look at Wall Street's transformative investments / Jeffrey C. Hooke. by Hooke, Jeffrey C., author. New York : Columbia Business School Publishing/Columbia University Press, [2021] Subjects Private equity -- United States.   Finance -- United States. ISBN:  9780231198820 (hardback) 0231198825 (hardback) Description:  227 pages : illustrations ; 24 cm Contents:  A Day in the Life -- The Private Equity Industry -- How does the Private Equity Industry Work? -- The Poor Investment Results -- Private Equity and the Holy Grail -- The High Fees -- The Customers -- The Staffs -- The Enablers -- The Fellow Travelers -- In Closing. Requests:  0 Summary:  "Private equity was once a niche investment play that has grown into a massive behemoth affecting both American commerce and the financial markets. This book will explore the negatives of private equity, aspects of the business that remain opaque. The author posits that private equity profits from this opacity. Private equity managers claim they can beat the market (which isn't always borne out). When faced with such evidence, the managers say their product offers 'low correlation' to the stock market and, thus, provides a diversification opportunity from publicly traded equities, neither of which is true. The business media, for the most part, ignores these salient facts and portrays prominent fund managers as "geniuses" even when the big-name funds, like Blackstone, KKR and Carlyle, perform no better than the small no-name funds. State legislators pass laws hiding high private equity fees on their pension plans, and other customers of private equity continue buying it, since the practical expedient of investing in more lucrative, low-cost index funds obviates the need for their own jobs. For financial professionals hedge funds were once the place to be, now it's private equity. Private equity is undeniably successful and incredibly profitable for those who manage it. But it is important that the industry be held to account where its shortcomings may lie"--   Copy/Holding information Location Collection Call No. Status   Hawaii State Library Business, Science & Technology 332.6 Ho Checked In Add Copy to MyList Kailua Public Library Adult Nonfiction 332.6 Ho Checked In Add Copy to MyList

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