A Quote by David Bonderman
A good default, like Portugal or Greece, would be very good for the private equity business.
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Being a good private equity investor is more complicated than it seems. I would say that there are a few characteristics that are important. If you look at the skill set that you need to ultimately be a successful private equity investor, at least at the senior level, you have to be, in this business, a good investor. You have to be able to help companies perform and you have to have judgment around exiting investments. If you look at the skill sets there, they include some things you can teach and some that you can't.
We all want the Greek people to prosper, to be able to provide a good life for their families and their children. That would be good for Greece, that would be good for the European Union, good for the United States, and ultimately, good for the world.
It's very hard for individual inventors to get paid. For the same reason that private equity is valuable - broadly, that's a good thing - in the case of patents, many that own them aren't in a good position to take the next step.
We really wake up every day trying to build businesses. That is the goal of private equity. It's a misnomer out there that private equity profits by shrinking companies. In fact, it's just the opposite. Private equity creates value by growing great companies.
I'm working at trying to be a Christian, and that's serious business. It's like trying to be a good Jew, a good Muslim, a good Buddhist, a good Shintoist, a good Zoroastrian, a good friend, a good lover, a good mother, a good buddy - it's serious business.
I'm working at trying to be a Christian, and that's serious business. It's like trying to be a good Jew, a good Muslim, a good Buddhist, a good Shintoist, a good Zoroastrian, a good friend, a good lover, a good mother, a good buddy: it's serious business.
So you know, everyone points out Greece's default record, but the history of a lot of sovereign nations is not a good one when it comes to lending them money.
Vocally, I'm definitely pushing out more. That feels good. It's very freeing. I've always been very private and consciously private. Now it's kinda like, 'Who cares.' I'm gonna be free and gonna be me. I feel good.
Nobody in my generation ever started out in private equity. We got there by accident. There was no private equity business - actually, the word didn't even exist - when I started. I got there out of the purest of happenstance and so I think many people find what they really enjoy doing just in that way. So another piece of advice for you is: don't worry too much about what you're going to be doing when you get out of business school - life will come your way.
If we were the problem, it would be very convenient - kick Greece out, everything's fine. What would happen to Spain, what about Portugal, what about Italy, what about the whole of the euro zone? We need more cooperation and less simplification and prejudice.
Fashion is like a four-legged table: you need a good designer, a very good business manager, a good manufacturer, and a very good distributor. Without all the legs, table collapses.
Private equity has absolutely no reason to exist. The private equity holder has all the upside and the banks all the downside.
Banks don't want certain asset classes, and that's created opportunities for private equity, hedge funds, Silicon Valley. In this case I think he was referring to some of the European banks shedding assets, and the big buyers are probably not going to be big American banks. Someone like Blackstone may have a very good chance to buy those assets, leverage them, borrow up a little bit, and do something good there.
It's very different, because in Portugal we don't play during the Christmas holidays. But I think it's very good for the fans and everyone around, because families can enjoy the games together during the holidays. For my family, it's also good because they like to see me perform and they like to see my play.
Business is like sex. When it's good, it's very, very good; when it's not so good, it's still good.
Private equity firms aren't necessarily evil by definition. There are many stories of successful turnarounds fueled by private equity, often involving multiple floundering businesses that are rolled into a single entity, eliminating duplicative overhead.
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