He was one of the top guys at Blackstone. They are a private equity group. Their stock has gone down 80% since they IPOed. He was lucky that he cashed out when

He was one of the top guys at Blackstone. They are a private equity group. Their stock has gone down 80% since they IPOed. He was lucky that he cashed out when he did. Getting rich buying companies with borrowed money, and then unloading them on somebody else was the ultimate bubble business. Now that the credit bubble has burst, existing private equity has died. They're left with companies with enormous debt burdens that no one wants - think Sam Zeller and the Chicago Tribune company. I don't think Blackstone has sold a company since 2007. I'm not sure there are any lessons to extrapolate from this.