In Good Company with Nicolai Tangen Stephen Schwarzman founder and CEO of Blackstone
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Apr 26, 2023 Stephen Schwarzman, the founder and CEO of Blackstone, shares his insights as a titan of global finance. He tackles pressing economic questions like peak inflation and recession risks. Schwarzman reflects on his journey, emphasizing the need for emotional resilience in entrepreneurship. He discusses the complex dynamics between the US and China post-pandemic and offers career advice, encouraging young professionals to pursue their passions. Plus, he shares a hilarious story about a bar fight during his adventurous summer at sea!
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Learning From Mistakes
- Early in his career, Schwarzman made a costly mistake investing in a steel distribution company.
- This experience taught him the importance of avoiding losses.
Risk Management
- Focus on risk sensitivity, not risk aversion.
- Always consider potential downsides before investing and avoid investments where losses are likely.
Identifying Good Deals
- The best deals are often the easiest to agree on.
- Overly debated investments, even if successful, are rarely great.
