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Lessons from the year’s top finance books

Warren Buffett, so the legend goes, reads some 500 pages a day. While you might not make it quite that far over the festive break, we hope you get a bit of time to catch up on your favourite titles. Here, Financial News runs through some of the best books we’ve read this year.

Isn’t private equity law fun? Just ask Skadden, Arps, Slate, Meagher & Flom, designers of some of the most Dickensianly complex buyout structures around. These include KKR’s takeover of Houdaille Industries, once a manufacturing conglomerate, in the first modern leveraged buyout.

“On 5 March, 1978, HH Holdings Inc held a ‘meeting’ at KKR’s office, which was attended by a single person, [KKR co-founder Henry] Kravis, who was its sole director. At this ‘meeting’, Kravis proposed 18 resolutions to himself and approved them by a 1-0 vote.

“Several days later, he did the same with HH Acquisition…

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