Book: Barbarians at the Gate Author: Bryan Burrough, John Helyar Key takeaways: This is a story about leveraged buyout of RJR Nabisco, a large conglomerate. The buyout was preceded by a bidding war between the management (led by the CEO, Ross Johnson), KKR, the storied private equity firm, and a few ‘smaller’ players. Leverage buyout … Continue reading
Book: When Genius Failed Author: Roger Lowenstein Key takeaways: This is a story about Long-Term Capital Management (LTCM), a Connecticut based hedge fund that made waves with unreal returns for a few years before blowing up spectacularly. As it fell, it almost took down the financial markets with it, forcing the hand of New York … Continue reading
Book: The Little Book of Value Investing Author: Christopher Browne Key takeaways: Value Investing works: Browne relentlessly argues that value investing is the only long-term game in town. With my extremely limited experience, I find that there’s no better way to understand a stock than understanding the industry, looking at the financial statements, and coming … Continue reading
