Remove Leveraged Buyouts Remove Private Companies Remove Stock Market
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Transcript: Michael Fisch

The Big Picture

But there came to be, in certain situations, buyers that were bootstrap, buyers that were, we would call ’em today, they then leveraged buyout financiers. And now we call it the private equity industry. All the utilities and railroads at the beginning of the stock market were thought stable enough.

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Transcript: Gretchen Morgenson

The Big Picture

MORGENSON: And so it looked like it was really a pretty reasonable reaction to what had been years of undervalue in the stock market. So, when private equity really was ramping up in the ’80s and ’90s, it was essentially an institutional allocation. The death of equities, you remember that cover. RITHOLTZ: Sure.