Me in the FT

Today I was honored to have the Financial Times publish an editorial I penned concerning the pending Blackstone IPO and its implications for private equity and the overall market. I am especially proud because their interest in my thoughts emanated from my blog, where I have written quite a bit on the topic of hedge funds and private equity firms going public.

This reflects a true crossing of the mainstream media/alternative media chasm, another transformation about which I've written and which I am confident will change the face of media forever. And it is exciting to be even a small part of this tectonic shift that is taking place before our eyes. Thanks for joining me in this historic adventure.

Comments

[Jordan]

Congratulations! I saw the article in the FT, and it reminded me to check your blog.

You know, Nick Denton got his start as a FT reporter. Maybe you should just skip the blog analytics facade and go build your own media empire.

[Ashish Tomar]

Congratulations!!! I am just amazed by these events..

Here is What An Honest SEC Filing From Blackstone Would Look Like

Posted in Private Equity on March 23rd, 2007 by Market Poetry By: Market Poetry

ITEM 1. Business
Blackstone (the "Company") is engaged in the business of buying overpriced companies, loading them unsustainably with debt, and then reselling them to the greater fool. Our business is facilitated by low interest rates and inexperienced lenders with quotas to meet. In the current market environment we are pursuing larger, higher profile acquisitions than ever before in order to feed our constantly growing egos. After financially raping our corporate acquisitions, our goal is to pass them on to someone else before problems emerge. We charge exorbitant fees to our limited partner investors that are entirely disconnected to the risk we take and the value we create. Due to our prestige and aura, we are able to offer our investors the opportunity to be associated with our institution and the feeling that they are "in the game," in place of returns truly commensurate with our fee structure. With Mr. Shwarzman's recent appearance on the cover of Fortune magazine and the current private equity hype, there is no better time to sell an interest in the Company. Through obfuscation, legalese, selective non-disclosure, and creating the illusion of impenetrable complexity, we believe we are able to accomplish an IPO without revealing too many of our secrets. Post-IPO we will continue to run the company for the benefit of management, but that will not be apparent to our bubble-chasing shareholders.