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Billionaire David Rubenstein on Private Equity and His Life

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A speech and Q&A by David Rubenstein. David speaks about how he got into Private equity and created the Carlyle Group, which is the largest Private Equity fund in the world (2016). He gives valuable insights into his career such as how he was not qualified for private equity, nor had any experience in it but still succeed. He had originally worked in politics. Like if you enjoyed Subscribe for more:http://bit.ly/InvestorsArchive Follow us on twitter:http://bit.ly/TwitterIA Other great Private Equity investor videos:⬇ Steve Schwarzman reflects on Blackstone and His Life:http://bit.ly/SSPEPic Billionaire Henry Kravis on Finance, Work Ethic and Life: http://bit.ly/HKFVid Billionaire Leon Black: Investment Strategy for Private Equity:http://bit.ly/LBlackVid Video Segments: 0:01 Start 1:10 Background/ Early life 11:12 Staring out in Private Equity 13:40 What we did different 18:50 Philanthropy 23:37 What it means to be a entrepreneur/The kind of people I hire 27:46 The USA’s economy 35:25 Start of Q&A 35:29 Advice for someone looking to go into public service? 37:30 What is the greatest challenge facing your company and the industry? 41:00 Views on tax promoted income as ordinary income rather than capital gains? 45:02 How much of your success to you attribute picking winners vs raising funds? 48:19 What frustrates you the most about the philanthropic habits of the wealthy? 50:37 Influence of faith on your career and philanthropy? 52:31 Over the history of Carlyle, is there one deal that sticks out in your mind? 55:01 What do you think is the key piece missing from business school education? 57:04 What made the Carlyle group successful? 58:49 How did you convince people to give you 5 million for your first fund? Interview Date: April 12th, 2011 Location: Robert H. Smith School of Business Supporting document: http://bit.ly/RubenstienSD Original Image Source: http://bit.ly/Rubenstien Investors Archive has videos of all the Investing/Business/Economic/Finance masters. Learn from their wisdom for free in one place. For more check out the channel. Remember to subscribe, share, comment and like! No advertising.
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Text Comments (85)
M2tO (4 days ago)
What is he saying at 3:45 ? He goes to fast for me to. I can not understand it.
이은굥 (18 days ago)
난 디필코 인베스트먼트 뱅킹 걸쳐 피이에 간다
rough rough (1 month ago)
Thank god trump is the president of united states
Ayush Goyal (1 month ago)
thank you very much David sir!
Deepak Jindal (3 months ago)
Jews do control the financial markets.
Jessica Chaidez (1 year ago)
Best private equity in the world and the best advice ever!
Dr Nathan Kaiser (1 year ago)
David is a great man, we love him
Alan Su (1 year ago)
I nominate this man for President! Really!
Gregory Larry (1 year ago)
Thanks for sharing this fascinating video.
Investors Archive (1 year ago)
Thanks for watching Gregory!!
pedroSilesia (1 year ago)
On economy he actually summed up Donald Trump's campaign
SWFI (1 year ago)
Sovereign wealth funds have invested in Carlyle Group private equity funds.
khadija saadallah (1 year ago)
He's amazing in the way he animated the speech and made it as inspiring as fun !! All my respects Sir
the trash man (1 year ago)
fuck thought the title was Dave rubenstein of regan youth kms
LORDE 2729 (1 year ago)
i like this guy. really good
Jordan F (1 year ago)
Met David at Supereturns a few years ago. He is one smart man.
Ian Soileau (1 year ago)
pro tip .75 speed if you want to hear him speak normally
Hector Beltran (1 year ago)
Ian Soileau hahaha it actually works!!!!
Brendan (1 year ago)
He's a great storyteller
Karun A (1 year ago)
Candid form of experience sharing. Brave way of doing things. Great.
Arief Rochelle (1 year ago)
I couldn't stop watching...very engaging and informative!
SymbolisedEU (1 year ago)
Best rule of law...idk man..
David Barett (1 year ago)
I thought I put the speed to 1.25
heladar (1 year ago)
I am at 6:42 now, did I accidentally click on double speed or his he really verbally racing? xD
Ashfaq Sheikh (1 year ago)
This talk was delivered in April 2011. Euro had hit a high of 1.48 to the USD. Today (March 2017), it is at 1.07. Mr. Rubinstein seemed to be pessimistic about the future of USD. But looking back, it turned out fine.
Ahmet Kul (1 year ago)
Thank you, David. I really like how you explain all that. Also, I think this would be an interesting explanation of Private Equity as well. Check it out. https://youtu.be/qM1mRPuqymg?list=PLCY0NbwAygWlK6NOoE87AiBgXLyz1-res
Kamran Hussain (1 year ago)
Lance Pickell (1 year ago)
Kamran Hussain please go kill yourself
Lightning Mo (1 year ago)
Does he discuss how he "works with" young children
Ameya Limaye (1 year ago)
Great Guy. Smart & Funny..
MrFreshomie (1 year ago)
Love this channel, thank you for the amazing content.
Calvin (2 years ago)
He is so smart
cathodez (2 years ago)
Let me give some advice on achieving if you don't come from the top of your class... fyi I went to Duke undergrads and University of Chicago for law school. Hahaha
Violet15 (2 years ago)
some hard truths
Adesh (2 years ago)
yes.. talking at speed which will make even Bret Lee shy away !!
Ding Yu (2 years ago)
OMG He's the MAN! all hail Rubenstein!
Valdemar Daneskjold (2 years ago)
Just admit it - you got your shit by being jewish and being chosen for specific jobs the goys wouldent - investement banking is scamming productive white people - you would never have become rich in Israel
Valdemar Daneskjold (1 year ago)
Would he have become rich in israel - where there were no white people??
Lance Pickell (1 year ago)
Valdemar Daneskjold pure hate
Alec Y (2 years ago)
Go check on RealvisionTV, THE heaven for investors. He is one of the hosts there. Great guy, love his insight.
ijw z (2 years ago)
I didn't know Steve martin is a billionaire
Du Nguyen Van (2 years ago)
Thank you!
FRANK van den oever (2 years ago)
lol. just to make you understand what a trillion dollars is: If a million dollars would be put in a bank account the day Jezus Christ was born, and another million dollars would be put in the bank account every single day for the next 2016 years you would still not have a trillion.
Son Salvador (1 year ago)
2,017 years × 365 days per year = 736,205 days 736,205 days × $1,000,000 per day = $736,205,000,000 *Exclude any leap years *Exclude compound growth
Browning Lui (1 year ago)
yea, when I was thinking of that. I was like damn.....that's a lot of DEBT! He's very honest though. That's what I like.
Adam (1 year ago)
FRANK van den oever compounding...
Kenneth Hsu (2 years ago)
Like his last joke best. Overall, it is very inspiring and informative speech!
Bryan Wheelock (2 years ago)
It's always great to hear about unconventional careers.
Will Chou (2 years ago)
Thanks David for this
Recently came to know of Mr. Rubenstien, he has a very charming and down to earth personality. He also seems rather courageous. Someone we can definitely learn a lot from in terms of business, life and social responsibility.
Empress Empress (2 years ago)
I'm tired of seeing pure damn Jews in power!! Especially in banks where they rob us all!
borderlord (2 years ago)
He wasn't a very good lawyer,didn't know anything about investing... So he basically got rich through his talent for Schmoozing! He should do stand up...mmm...he actually is fing funny!
Great Dragon (2 years ago)
smart enough to assult u in the face kys
borderlord (2 years ago)
Great Dragon You sound intelligent 😂😂
Kevin Hsu (2 years ago)
Speaks super fast.. but he covered a lot
Comrade Lenin (2 years ago)
Did he say Mark ...SUCKERberg?
KPrand (2 years ago)
samuel wang (2 years ago)
I really like the way he speaks, confident and humble.
LORDE 2729 (1 year ago)
like a bullet train
stephen geraci (2 years ago)
I never heard of Mr. Rubenstein, but he seems like a great guy and reminds me of Warren Buffett
STEPHAN FEIBISH (2 years ago)
I've never heard someone talk so fast and at the same time be so understandable. Don't think it would work in STEM though :)
Artur Poluektov (2 years ago)
I love the moment when David says: "If you don't love what you do everyday, you should something different".
hkrumble (2 years ago)
Absolutely fascinating...
Marcus Aurelius (2 years ago)
Brilliant man, but it's a shady business having politicians tell you where to invest and vice versa. Questions arise like, "How far in advance of the Irag war did Rubenstein know it was going to happen?"
rm187loco (2 years ago)
He is legit
rm187loco (2 years ago)
sounds like Jay Leno
KnifeCatcher (2 years ago)
Very insightful. Great information at 90 mph.
Peter Albanese (2 years ago)
This guy is AWESOME.
Alex Charles (2 years ago)
Jay Leno little brother
Zachary Wolfe (2 years ago)
I think you mean Ben Stein
Jin Jude (2 years ago)
this reminds me of a chinese billionaire giving a speech in harvard business school boasting his amazing ability of turning 7 billion into 700 billion in ten years(omitting it is mere balance sheet size), what he didn't mention was his first wife was a daughter of county party boss, his second wife was a daughter of the province party boss and his third wife was the granddaughter of the late national party boss. you certainly cannot beat this dude!
Jin Jude (2 years ago)
this reminds me of a chinese billionaire giving a speech in harvard business school boasting his amazing ability of turning 7 billion into 700 billion in ten years(omitting it is mere balance sheet size), what he didn't mention was his first wife was a daughter of county party boss, his second wife was a daughter of the province party boss and his third wife was the granddaughter of the late national party boss. you certainly cannot beat this dude!
Jin Jude (2 years ago)
when a US bureaucrat turned billionaire talks about chinese communists beating western capitalists at their own game, you have to wonder what game he is referring to(hint: crony capitalism, facist...)? china's going to be a bigger disaster than Venezuela. Well, some stupid liberal economics professor admired Venezuela not long ago too! No wonder USA is heading downhill.
R_ M (2 years ago)
never. 🇺🇸🇺🇸
Kai (2 years ago)
what a great guy!
Little Cripple (2 years ago)
Its amazing the differences of opinions between all the great investors regarding economics. Some are terrible, others hold some great ideas, plus hold ideas which contradict those good ideas, and others like Rubenstien here seem to be much more consistant. Now cause he didnt go into full details i cant say if he's bad at anything, for one id love to hear more of his thoughts on unemployment. He knows about the job participation rate and how government manipulates data regarding unemployment which makes him better than 3/4s of high level investors. Does he know if you count the unemployment figure like they did during the Great Depression youd get a figure of 22/23%? The other fallacy concerning unemployment is technology unemployment which never goes away and litteraly makes big noise every couple of decades. In the 80s people thought computers would have us all in a desperate state, before that electricity, and machines again and again. Its called the Curse of Machinary fallacy. 90% of people were "thrown off farms" so what were they going to do without jobs and how would the economy perform? Machines made 95% of clothing girls unemployed so how will the economy survive with all that unemployment?? Well clothes and food prices dropped dramatically. And with those savingd that money went into other things. For one increased ownership in housing, electric good etc. We've seen the work week drop from 80hours to 60 to 40. Well we can see it drop to 30, 20, 10 and 5. We've a long way to go. And what happens when we hit rock bottom? Well at first internet sites would charge you for their services like FriendsReunited. Well now we have facebook. Firms give away their services for free and exist off advertisement. Well a dentist of the future can do the same etc.
Supernova (2 years ago)
+nicosmind3 . I will agree that without a college degree you will be very limited in career options within the financial industry. However, you don't have to like or agree with everything you study at school for it to be useful. I for example was subjected to take a IS course which I found to be utterly useless. On the finance and economics side you will need to learn and understand theoretical concepts in order to perform proper analysis. Finance and economics are social studies unlike what some people think. That means you will need a good arsenal of skills to employ in different situations. There is no magic bullet. But without those skills at your disposal you are severely limited. Get an education. If not in business then get a degree in math or statistics. You will be glad you did when its done. Good day!
Little Cripple (2 years ago)
+MrSupernova111 Ive looked at getting something official like a PPE or just a degree in economics, but i think theres just so much nonsense out there that id just rather go it on my own. Like the Efficient Market Hypothesis. I cant believe anyone who would buy into that. Then theres the belief that the more volatile something is the higher its risk. Warren Buffet wisely pointed out that if a company is worth $100 million, but is selling at $80 million its selling at a discount. It dropping to $40mil does not make it twice the risk but even more of a bargain, and if it liquidates you stand to win even more. I think im doing ok when it comes to the markets but yeah. An official qualification would be handy if i was to ever look for work in the field
Supernova (2 years ago)
+nicosmind3 . You are correct that many people may not be aware of the way unemployment is reported. But then the majority of people are not college educated and are not business majors with finance, economics or accounting degrees. if you want a true measure of unemployment look at the labor force report which is just over 60%. That means that roughly 40% of Americans do not work or participate in black markets. Great job to you for keeping up to date with economic news. I highly recommend you get a degree in economics or closely related field. You will not regret it. Good day!
Little Cripple (2 years ago)
+MrSupernova111 Well ive read plenty of articles and statements which would make you think otherwise. Plus the majority of economists seem to be worried about technological unemployment. And i watch a lot of investment news. If theyre considered basic facts then a lot of people seem to forget those facts. Especially when talking to the media
Supernova (2 years ago)
What a pointless rant. I can tell you as a finance student that your rant about unemployment is a basic fact thought in all business majors.
Talha Muhammad (2 years ago)
Great man having an exceptional sense of humor.
Inspiring ....
R_ M (2 years ago)

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