http://www.andykessler.com/andy_kessler/2007/06/wsj-blackstones.html
Andy Kesssler says
Will the private equity party -- this week's Blackstone IPO is icing on the cake -- end with a bang or a whimper?
Sure. The money involved here ain't small potatoes. Private equity funds raised $221 billion last year, up from $33 billion 10 years ago. There are now over 170 private equity funds with more than $1 billion in assets. The value of deals done last year was $475 billion, up from $37 billion five years ago. Most of it was taking public companies private -- Equity Office, HCA, Harrah's Clear Channel and on and on.
What's fueling the boom?
Andy Kessler was a hedge fund manager and author. I have read two of his books : "Running Money" and "Wall Street Meat". These books are really interesting and tell about his experience running a hedge fund and how the analysts duped the investors during the dot com boom. Also, he analyses the cause of the dot com boom and the technology revolotion it brought forth.
Do read these books if you get a chance.
Here are reviews of these books
http://www.andykessler.com/andy_kessler/2004/11/reviews_of_runn.html
