Never be complacent. Nothing is set in stone. Whether it is an individual or a business, if you don't often seek ways to reinvent yourself and improve yourself, you will be defeated by your competitors. Especially organizations, because organizations are more fragile than they think. ——(Excerpt from principle)
Schwarzman: My Experience and Lessons
This is an investment, management book, a book about successful entrepreneurship, or a philosophy of life.
Blackstone, founded by Schwarzman, is a global giant of private equity asset managers and real estate management companies. As of the third quarter of 2019, Blackstone managed more than $550 billion in total funds. Blackstone's per capita profit is 9 times that of Goldman Sachs, with an average return of more than 30% over the past 30 years. More than 70 percent of the top 50 U.S. companies and pension funds have investments in Blackstone.
Schwarzman is known for its rigorous investment processes, innovative approach to transactions, diverse business areas, and doing everything well. He has led Blackstone to become a global private equity and real estate investment company giant with unique investment principles and management principles. He spent his life learning, thinking about how to succeed, how to achieve his dreams, and he condensed the experience and lessons he had accumulated over the decades in this book.
This book has no advanced concepts and theories, nor does it have a plot narrative of ups and downs, but it contains subtle and profound investment management skills, as well as successful experiences and lessons, as well as life beliefs and life insights. Professionals in the fields of investment and management, students, researchers, corporate white-collar workers and other general readers can benefit from this book and realize their potential.
Stephen A. Schwarzman, co-founder, chairman and CEO of the global private equity giant Blackstone Group, holds a bachelor's degree from Yale University and a master's degree in business administration from Harvard Business School. He and Peter Peterson founded Blackstone for $400,000 and developed it into the true king of private equity on Wall Street. He has been dubbed by the media as "the new king of Wall Street", "Buffett of private equity", "American landlord". He is also a philanthropist with billions of dollars, and on January 2, 2020, Forbes released the 2019 U.S. Charitable Giving List, and Schwarzman ranked 6th with $188 million in donations. He donated US$100 million in his personal capacity to support Tsinghua University in building Schwarzman College and founding the Global Scholars Program, a single charitable donation received by Chinese universities from abroad to date.
Schwarzman: My Experiences and Lessons Catalogue
● We must be punctual in our promises, be honest and honest, and be well prepared.
Investors are always looking for great investments, and the more difficult you make their decisions, the greater the benefits for everyone.
People in difficult situations tend to focus only on their own problems, and the way to solve them is usually in how you solve other people's problems.
● Today, I understand. One can learn to be a manager, or even to be a leader, but one cannot become an entrepreneur through learning.
● The difficulty of doing big things and doing small things is the same. So choose an ambitious goal worth pursuing and let the rewards match your efforts.
● The difficulty of doing big things is the same as doing small things. Both will consume your time and energy, so if you are determined to do something, do something big, and make sure that your dreams are worth pursuing and that future gains can be worthy of your efforts.
So, I firmly believe that if you are hungry enough for something, even if there are no conditions, you will always find a way to achieve it. As long as you work hard, as long as you persist, you will become impossible, and you will achieve natural success.
By getting to know Jack and observing his actions, I am even more convinced that the most important asset in business is information. The more you know, the more perspective you have, the more connections you can make, and the better your ability to make predictions.
The way to avoid this is to start investing when the value has recovered by at least 10% from its lows. As the economy gains momentum, asset values tend to rise with it. It is best to abandon the 10% to 15% increase when the market first recovered to ensure that the asset is bought at the right time.
The topic of greatest interest to people is always "their own problems." If you can identify the other person's problem and come up with a solution, they will be willing to communicate with you, regardless of their rank or status. The more difficult the problem and the fewer solutions, the more valuable your suggestions will be. Providing solutions to problems that everyone avoids is the area where competition is the least competitive and the most opportunity.