Status Updates From The Predators' Ball: The In...

Explains the M&A wave, “triggered in part by the market cream of 1974, which created abundant bargains. Then inflation swelled the value of corporate assets, but the stock prices did not rise to reflect those values. So it became much cheaper to buy a company than to build one.” Like residential real estate and the renovation market.

“Many, too, were mesmerized by Milken’s brilliance and awed by his sense of mission. The group was not unlike a cult: intensely secretive, insular, led by a charismatic and messianic leader who many of his followers came to see as larger than life.”