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For sure the best Wall Street book
am 30. September 2004
Barbarians at the Gate is the best Wall Street book I have ever read. Even at University in Switzerland we have looked into the legendary takeover battle and largest leverage buyout of RJR Nabisco by KKR in the year 1998. The two authors, Bryan Burrough (a reporter for the Wall Street Journal in New York) and John Helvar (Senior Correspondent for the Wall Street Journal), draw the amazing story of "The Fall of RJR Nabisco" in great detail. The Book kicks off with the boardroom meeting where management presented the idea of the buyout only to go back in history of key management and company histories as well as corporate America in the 80s.
The authors describe characters like Ross Johnson ("never tell the truth, never pay in cash and never play by the rules") of RJR and Henry Kravitz of KKR as well as deal tactics and financing instruments of buyout houses and investment banks with great detail make the booking an excellent read.
If you are interested in this topic, I suggest you also read "Den of Thieves" and "Taken for a Ride", both of which cover the Investment Banking world of M&A deal tactics.