Billionaire Marc Rowan: Buy at a Low Price

Apollo Management’s Marc Rowan: ‘The Best Returns Follow Chaos’ – Knowledge@Wharton.

Marc Rowan, founding partner of Apollo Management, one of the world’s largest private equity investment firms, makes it sound simple: Stick to the fundamentals — that is, buy a good business at a low price — and you ultimately will see returns. Of course, identifying those businesses is the challenge. Rowan, who was in mergers and acquisitions at Drexel Burnham Lambert before starting Apollo, spoke with Knowledge@Wharton about how Apollo makes investment decisions, the challenges private equity faces in the coming months, the recent insider trading scandals and what he looks for in new hires.


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