36 books like Private Equity Laid Bare

By Ludovic Phalippou,

Here are 36 books that Private Equity Laid Bare fans have personally recommended if you like Private Equity Laid Bare. Shepherd is a community of 11,000+ authors and super readers sharing their favorite books with the world.

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Book cover of The Curse of Bigness: Antitrust in the New Gilded Age

Geoff Meeks Author Of The Merger Mystery: Why Spend Ever More on Mergers When so Many Fail?

From my list on accounting for M&A.

Why am I passionate about this?

As an economics student I was told that corporate merger would typically enhance financial performance, because of scale economies, market power or the acquirer’s superior management. As an auditor of recently acquired firms I found disorganization, demoralised staff, and weak profits. As a researcher I found that most mergers had failed to boost profitability, a finding that was mostly replicated by researchers over the subsequent 40 years. In the meantime, helped by my co-author, one of my aims has been to provide an explanation of this evidence, recounted in ‘my book.’ I’m an academic ‘lifer’ at Cambridge University – latterly Professor of Financial Accounting and Acting Dean of Cambridge’s Judge Business School. 

Geoff's book list on accounting for M&A

Geoff Meeks Why did Geoff love this book?

This is not a book on techniques of accounting for M&A, but about why governments need to hold to account large companies seeking dominance of markets through M&A and other means.

It explores the socially harmful impacts of some mergers, such as exacerbating inequality and subverting democracy. It is rich in case evidence and combines law and economics in a vigorous, lucid critique of past governments’ permissive attitudes towards corporate merger. Wu has acted as Special Assistant to President Biden on competition policy.

By Tim Wu,

Why should I read it?

1 author picked The Curse of Bigness as one of their favorite books, and they share why you should read it.

What is this book about?

From the man who coined the term "net neutrality," comes a warning about the dangers of excessive corporate and industrial concentration for our economic and political future.

We live in an age of extreme corporate concentration, in which global industries are controlled by just a few giant firms―big banks, big pharma, and big tech, just to name a few. But concern over what Louis Brandeis called the "curse of bigness" can no longer remain the province of specialist lawyers and economists, for it has spilled over into policy and politics, even threatening democracy itself. History suggests that tolerance of inequality…


Book cover of Accounting for M&A: Uses and Abuses of Accounting in Monitoring and Promoting Merger

Geoff Meeks Author Of The Merger Mystery: Why Spend Ever More on Mergers When so Many Fail?

From my list on accounting for M&A.

Why am I passionate about this?

As an economics student I was told that corporate merger would typically enhance financial performance, because of scale economies, market power or the acquirer’s superior management. As an auditor of recently acquired firms I found disorganization, demoralised staff, and weak profits. As a researcher I found that most mergers had failed to boost profitability, a finding that was mostly replicated by researchers over the subsequent 40 years. In the meantime, helped by my co-author, one of my aims has been to provide an explanation of this evidence, recounted in ‘my book.’ I’m an academic ‘lifer’ at Cambridge University – latterly Professor of Financial Accounting and Acting Dean of Cambridge’s Judge Business School. 

Geoff's book list on accounting for M&A

Geoff Meeks Why did Geoff love this book?

This brings together 9 specialists in accounting, economics, or statistics – from academe or practice – to tackle questions such as: does accounting manipulation affect the terms on which acquirers buy targets; are the post-merger accounts projected by bidders to be trusted; did the way targets were incorporated in the combine’s accounts affect share price?

It’s not a relaxing read – some heavy statistical work and disturbing conclusions: clever accountants have often been able to hoodwink investors before, during and after M&A transactions.

By Geoff Meeks (editor), Amir Amel-Zadeh (editor),

Why should I read it?

1 author picked Accounting for M&A as one of their favorite books, and they share why you should read it.

What is this book about?

Spending on M&A has, in aggregate, grown so fast that it has even overtaken capital expenditure on increasing and maintaining physical assets. Yet McKinsey, the leading management consultancy, reports that "Anyone who has researched merger success rates knows that roughly 70% fail". The idea that businesses might be using huge and increasing sums of shareholders' money for an activity that more often than not leads to failure calls into question the information on which M&A decisions are based.

This book presents statistical studies, case material, and standard-setters' opinions on company accounting before, during, and after M&A. It documents the manipulation…


Book cover of Lights Out: Pride, Delusion, and the Fall of General Electric

Geoff Meeks Author Of The Merger Mystery: Why Spend Ever More on Mergers When so Many Fail?

From my list on accounting for M&A.

Why am I passionate about this?

As an economics student I was told that corporate merger would typically enhance financial performance, because of scale economies, market power or the acquirer’s superior management. As an auditor of recently acquired firms I found disorganization, demoralised staff, and weak profits. As a researcher I found that most mergers had failed to boost profitability, a finding that was mostly replicated by researchers over the subsequent 40 years. In the meantime, helped by my co-author, one of my aims has been to provide an explanation of this evidence, recounted in ‘my book.’ I’m an academic ‘lifer’ at Cambridge University – latterly Professor of Financial Accounting and Acting Dean of Cambridge’s Judge Business School. 

Geoff's book list on accounting for M&A

Geoff Meeks Why did Geoff love this book?

This is a deeply researched and highly readable story of hubris and nemesis at a business giant.

It includes the role of accounting manipulation in its startling narrative of the rise and decline of GE, at its peak the most valuable company in the world, led by a CE dubbed the ‘manager of the century’. Important in its rise was a focus on ‘the all-important [accounting] earnings per share results that made Wall Street swoon’, resulting in a high and rising share price and the highest credit rating – both facilitating a spree of mergers (almost 1,000 in the two decade tenure of CEO Welch).

The authors detail a range of accounting devices used to manipulate earnings, including misreporting inventory and artificially altering the timing of revenue.

By Thomas Gryta, Ted Mann,

Why should I read it?

1 author picked Lights Out as one of their favorite books, and they share why you should read it.

What is this book about?

This is the definitive history of General Electric's epic decline, as told by the two Wall Street Journal reporters who covered its fall.

Since its founding in 1892, GE has been more than just a corporation. For generations, it was job security, a solidly safe investment, and an elite business education for top managers.

GE electrified America, powering everything from lightbulbs to turbines, and became fully integrated into the American societal mindset as few companies ever had. And after two decades of leadership under legendary CEO Jack Welch, GE entered the twenty-first century as America's most valuable corporation. Yet, fewer…


Book cover of The UK Accounting Standards Board, 1990-2000: Restoring Honesty and Trust in Accounting

Geoff Meeks Author Of The Merger Mystery: Why Spend Ever More on Mergers When so Many Fail?

From my list on accounting for M&A.

Why am I passionate about this?

As an economics student I was told that corporate merger would typically enhance financial performance, because of scale economies, market power or the acquirer’s superior management. As an auditor of recently acquired firms I found disorganization, demoralised staff, and weak profits. As a researcher I found that most mergers had failed to boost profitability, a finding that was mostly replicated by researchers over the subsequent 40 years. In the meantime, helped by my co-author, one of my aims has been to provide an explanation of this evidence, recounted in ‘my book.’ I’m an academic ‘lifer’ at Cambridge University – latterly Professor of Financial Accounting and Acting Dean of Cambridge’s Judge Business School. 

Geoff's book list on accounting for M&A

Geoff Meeks Why did Geoff love this book?

These three authors were brought in in 1990 to lead accounting standard-setting in the UK.

At the time, company accounts – especially those of merging companies - were a ‘laughing stock’, with profits often wildly overstated and debt materially understated. Against the expectation of many, they managed to outlaw companies’ preferred (profit-enhancing) accounting for M&A – ‘a triumph of diplomacy as well as intellectual ingenuity’ in the words of the Financial Times. The US and international standard-setters have since come close to adopting the same solution – but in the end have never quite dared.

The book combines rigorous discussion of technical accounting with light and lively discussion of the challenges and fights in which they engaged.

By David Tweedie, Allan Cook, Geoffrey Whittington

Why should I read it?

1 author picked The UK Accounting Standards Board, 1990-2000 as one of their favorite books, and they share why you should read it.

What is this book about?

In the late 1980s, financial accounting in Britain was in disarray. 'Creative' accounting was rife. The authority of the industry's standard-setters had been drastically compromised when their rules for inflation accounting were first ignored by many firms and then abandoned. There were calls for government to replace the accountants' self-regulation with a tough regulatory regime close to the American model. Also, rapid change in the financial industry was generating complex new financial schemes for which existing accounting standards were inadequate. This book tells the story of the next decade: the problems the standard-setters faced, both technical and political, the resistance…


Book cover of The Key Man: The True Story of How the Global Elite Was Duped by a Capitalist Fairy Tale

Cyril Demaria Author Of Introduction to Private Equity, Debt and Real Assets: From Venture Capital to LBO, Senior to Distressed Debt, Immaterial to Fixed Assets

From my list on private equity in practice and peek behind the scenes.

Why am I passionate about this?

The financing of private firms is fascinating and a bit mysterious. It remains misunderstood and regularly gives birth to hype and excesses. I started my career working for a venture capital fund at the top of the Internet financial bubble, in 2000. This experience has imprinted my career and derailed my ambitions. It also fueled my thirst for knowledge. I started from essentially a virgin theoretical and academic land. I developed a body of practical and academic knowledge. Writing and publishing my books seemed to be the next logical step. I enjoy reading books on the sector and recommending them.

Cyril's book list on private equity in practice and peek behind the scenes

Cyril Demaria Why did Cyril love this book?

Private market fund managers are, along with hedge fund managers, the magnates of the 21st century.

Although many come from a privileged background, quite a few are self-made men such as the founder of what was once the largest private equity fund management firm in the Middle East: Abraaj Capital. The rags-to-riches story of Arif Naqvi, his drive from his childhood in Pakistan to high international society is simultaneously mesmerizing and frightening.

A headlong rush starts as his ambition outpaces his already high success. The fall is crushing, not only for him, but also for his partners, his employees, and everyone who trusted him. The book is a perfect combination of factual analyses and storytelling.

By Simon Clark, Will Louch,

Why should I read it?

1 author picked The Key Man as one of their favorite books, and they share why you should read it.

What is this book about?

AS FEATURED IN BBC TWO'S BILLION DOLLAR DOWNFALL: THE DEALMAKER DOCUMENTARY

Two Wall Street reporters investigate the man entrusted with millions to make profits and end poverty but now stands accused of masterminding one of the biggest, most brazen frauds in history.

'Gripping' Guardian

***

Arif Naqvi was a man with an immeasurable dream: to end world suffering, poverty and disease. His vision? Capitalism used for good, progress and profit.

He persuaded politicians he could help stabilize the Middle East after 9/11 by providing jobs. He got Bill Gates to help him start a billion-dollar fund to improve health care…


Book cover of Viva the Entrepreneur: Founding, Scaling, and Raising Venture Capital in Latin America

Kusi Hornberger Author Of Scaling Impact: Finance and Investment for a Better World

From my list on investing for impact.

Why am I passionate about this?

I am a Partner at Dalberg Global Development Advisors, where I lead a lot of our finance and investment advisory work with development finance institutions, family offices, and impact investors. I also serve on several impact investment and field-building organization advisory boards and regularly contribute to the ecosystem through thought leadership and speaking engagements at leading conferences. Over the course of my 20+ year career, I have played the role of advisor, investor, and technical assistance provider on more than 200 individual projects across the globe.   

Kusi's book list on investing for impact

Kusi Hornberger Why did Kusi love this book?

This book is an excellent read for any entrepreneur who is looking for a firsthand account of the ups and downs of starting and growing a business in emerging markets.

I got to know Brian during my time living in Brazil and truly admire his story, as well as the candor and honesty that he brings to this book. Brian shares tons of funny and useful anecdotes, particularly as they relate to raising funding and negotiating with venture capital and private equity investors.

Filled with insight, this is a must-read for anyone starting a business or investing in startups that they hope to see scale and change the world. 

By Brian Requarth,

Why should I read it?

1 author picked Viva the Entrepreneur as one of their favorite books, and they share why you should read it.

What is this book about?

The entrepreneurial journey is lonely—especially if you’re looking to start a business in Latin America, where opportunities are ripe but resources are scarce. Brian Requarth is well acquainted with the challenges unique to this part of the world, having grown Viva Real from two people to over 500 employees, and tens of millions in dollars of revenue.

Now, Brian wants to help demystify the obstacles you’ll face, teach what you won’t learn in business school, and offer you inspiration and encouragement on your journey.

Viva the Entrepreneur shares the lessons Brian learned while building his company. He shows how to…


Book cover of Investment Valuation: Tools and Techniques for Determining the Value of any Asset

Michael Samonas Author Of Financial Forecasting, Analysis and Modelling: A Framework for Long-Term Forecasting

From my list on financial modelling and valuation.

Why am I passionate about this?

I come from an engineering background and early in my career I discover financial modelling as I had to assess the viability of business plans. I deal with financial models the last 20 years of my professional carrier as a Group Financial Officer of SIDMA STEEL SA. Moreover, I am teaching financial modelling in the American College of Greece, Deree, at University of Nicosia in collaboration with Globaltraing and many other places abroad. I am a numbers person, and I am fascinated by financial modelling as it provides you a tool to support effective decision-making. 

Michael's book list on financial modelling and valuation

Michael Samonas Why did Michael love this book?

Another great resource for businessmen and students alike for Valuations.

Professor Damodaran (which gave praise on the back cover of my book) is considered as one of the world's foremost experts on the topic. He has built and provided, for free, a database at Stern NY University with data used in financial models for valuation purposes.

The book gathers a vast number of valuation techniques and gives great background and context for applying them and when they will tend to provide good information and when they can be misleading.

By Aswath Damodaran,

Why should I read it?

1 author picked Investment Valuation as one of their favorite books, and they share why you should read it.

What is this book about?

The definitive source of information on all topics related to investment valuation tools and techniques Valuation is at the heart of any investment decision, whether that decision is buy, sell or hold. But the pricing of many assets has become a more complex task in modern markets, especially after the recent financial crisis. In order to be successful at this endeavor, you must have a firm understanding of the proper valuation techniques. One valuation book stands out as withstanding the test of time among students of financial markets and investors, Aswath Damodaran'sInvestment Valuation. Now completely revised and updated to reflect…


Book cover of Exiting Your Business, Protecting Your Wealth: A Strategic Guide for Owners and Their Advisors

John F. Dini Author Of Your Exit Map: Navigating the Boomer Bust

From my list on business owners planning a transition.

Why am I passionate about this?

I have been a coach to business owners for the last 25 years, with a concentration on exit planning for the last twelve. During that time I have personally worked with over 500 owners. I’ve written 4 books on the subject, two of which were award winners. I’ve seen so many owners who built excellent businesses, but are stymied by how to leave them without deserting their employees and customers. Almost two-thirds of business owners over 60 years old have no plan for the transition of their businesses. I am on a mission to fix that.

John's book list on business owners planning a transition

John F. Dini Why did John love this book?

John is the founder of the International Exit Planning Association, the organization that grants the Certified Business Exit Planning Consultant (CBEC) designation I’d place this book much higher than fourth, except that it was written in 2008, and could use some updating on legal and tax issues. Nonetheless, the first half is definitely the best in discussing the psychological and emotional issues of an owner separating from the business.

By John M. Leonetti,

Why should I read it?

1 author picked Exiting Your Business, Protecting Your Wealth as one of their favorite books, and they share why you should read it.

What is this book about?

Written by John Leonetti-attorney, wealth manager, merger and acquisition associate, and fellow exiting business owner in his own right-Exiting Your Business, Protecting Your Wealth will guide you in thoughtfully planning out your exit options as well as helping you analyze your financial and mental readiness for your business exit. Easy to follow and essential for every business owner, this guide reveals how to establish an exit strategy plan that is in harmony with your goals.


Book cover of Investment Banking: Valuation, LBOs, M&A, and IPOs

Michael Samonas Author Of Financial Forecasting, Analysis and Modelling: A Framework for Long-Term Forecasting

From my list on financial modelling and valuation.

Why am I passionate about this?

I come from an engineering background and early in my career I discover financial modelling as I had to assess the viability of business plans. I deal with financial models the last 20 years of my professional carrier as a Group Financial Officer of SIDMA STEEL SA. Moreover, I am teaching financial modelling in the American College of Greece, Deree, at University of Nicosia in collaboration with Globaltraing and many other places abroad. I am a numbers person, and I am fascinated by financial modelling as it provides you a tool to support effective decision-making. 

Michael's book list on financial modelling and valuation

Michael Samonas Why did Michael love this book?

This book is one of the best I have seen on the topic of Investment Banking.

It is a very good primer. I would recommend it to everyone wanting to break into the industry. It is highly accessible, easy to understand and overall, an engaging presentation of the topic.

It is one of the books I consulted to write the valuation chapter of my book.

By Joshua Rosenbaum, Joshua Pearl,

Why should I read it?

1 author picked Investment Banking as one of their favorite books, and they share why you should read it.

What is this book about?

A timely update to the global bestselling book on investment banking and valuation - this new edition reflects valuable contributions from Nasdaq and the global law firm Latham & Watkins LLP plus access to the online valuation models and course.

In the constantly evolving world of finance, a solid technical foundation is an essential tool for success. Due to the fast-paced nature of this world, however, no one was able to take the time to properly codify its lifeblood--namely, valuation and dealmaking. Rosenbaum and Pearl originally responded to this need in 2009 by writing the first edition of the book…


Book cover of The $10 Trillion Opportunity: Designing Successful Exit Strategies for Middle Market Business Owners

John F. Dini Author Of Your Exit Map: Navigating the Boomer Bust

From my list on business owners planning a transition.

Why am I passionate about this?

I have been a coach to business owners for the last 25 years, with a concentration on exit planning for the last twelve. During that time I have personally worked with over 500 owners. I’ve written 4 books on the subject, two of which were award winners. I’ve seen so many owners who built excellent businesses, but are stymied by how to leave them without deserting their employees and customers. Almost two-thirds of business owners over 60 years old have no plan for the transition of their businesses. I am on a mission to fix that.

John's book list on business owners planning a transition

John F. Dini Why did John love this book?

I don’t know Richard Jackim, but Peter Christman is the founder of EPI, and this book is often described as “Where exit planning for business owners began.” It was the first to outline exit planning as a process that requires a team. It discusses tax and legal strategies, coordinating with estate planning, and developing a plan for due diligence. Written mostly for advisors, the focus is on the M&A process for middle market companies, but no list of exit planning books would be complete without it.

By Richard E. Jackim, Peter G. Christman,

Why should I read it?

1 author picked The $10 Trillion Opportunity as one of their favorite books, and they share why you should read it.

What is this book about?

The $10 Trillion Opportunity shows business advisors how to develop comprehensive, integrated exit plans for business owners. With the baby boomer generation approaching retirement age, exit planning has become one of the hottest topics for business advisors. Exit planning is a process that asks and answers all of the personal, business, financial, legal, estate and tax issues involved in selling or exiting from a privately held business. The $10 Trillion Opportunity is a logically structured book with a no-nonsense approach to exploring and addressing a topic that is often misunderstood and at times overwhelming for business owners and their advisors…


5 book lists we think you will like!

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