Myth of Private Equity: An Inside Look at Wall Street's Transformative Investments

Private equity has grown into a juggernaut, with consequences for industries and financial markets. Jeffrey C. Hooke's book "The Myth of Private Equity" examines the negative effects of private equity and its avoidance of scrutiny. It unravels the industry's exaggerations, criticizes its investment strategies, and reveals the realities concealed by secrecy. It is a bracing and essential read for the financial profession and the broader public.

Format: Hardback
Length: 240 pages
Publication date: 05 October 2021
Publisher: Columbia University Press

Private equity, once a relatively obscure corner of the investment world, has emerged as a formidable force, exerting significant impact across a wide range of industries and financial markets. These private equity funds wield considerable control over companies that possess trillions of dollars in assets, employ millions of people, and are vital to the well-being of thousands of institutional investors and their beneficiaries. While some private equity firms have gained a reputation for their ruthless tactics, it is important to recognize that many aspects of the industry remain shrouded in mystery and lack transparency, often operating beyond the usual bounds of accountability.

In his book, The Myth of Private Equity, Jeffrey C. Hooke, a former private equity executive and investment banker with extensive industry knowledge, takes a penetrating and critical look at the negative consequences of private equity and the strategies employed to evade scrutiny. Hooke meticulously dissects the industry's claims of high investment returns and financial wizardry, exposing the stark realities that are concealed by the funds' self-mythologizing and penchant for secrecy. He sheds light on the flaws in private equity's investment strategies, conducts a thorough analysis of its day-to-day operations, and uncovers the diverse network of enablers that support the industry.

This book is a must-read for both the financial profession and the broader public. It provides a bracing and essential perspective on one of the most controversial and contentious areas of finance. By shedding light on the hidden truths and exposing the industry's practices, Hooke empowers readers to make informed decisions and advocate for greater transparency and accountability in the private equity sector.

Weight: 470g
Dimension: 161 x 237 x 25 (mm)
ISBN-13: 9780231198820