David Rubenstein Will Have Warren Buffett Know He's Not A Porn Shop Operator

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The Carlyle Group co-founder is a man of refinement and taste who is more or less single-handedly preserving America’s cultural heritage, such as it is. But assuming Warren Buffett’s glittering eyes were pointed in his direction when he compared Berkshire Hathaway to the Metropolitan Museum of Art and others as “porn shop owners” who will slap a pair of bigger tits on a painting before selling it to the first guy in a raincoat to come along, Rubenstein isn’t having it, and said as much yesterday. If Berkshire Hathaway’s a big fancy museum on Fifth Avenue, then private equity firms—any, apparently—are an even bigger, fancier museum! A former royal palace! In Paris!

“As for Warren Buffett, who is a very smart man, yes the Metropolitan Museum is great but the Louvre is better and, you know, private equity, we’ll put you in the Louvre, and we give you more tender love and care,” Mr. Rubenstein told the audience of private-equity executives, who responded with applause.

“So if you really want to be in the Metropolitan go with Warren Buffett. If you want to be in the Louvre, which is a better museum, you know, go to private equity.”

Which analogy would work really, really well if Rubenstein was talking about some other Louvre, like the mall attached to the eponymous museum, or a cleverly-named art gallery that maybe levers the hell out of its paintings before selling them after a few years, because unlike Buffett’s Met and the actual Louvre, Carlyle has a pretty robust deaccession policy.

Carlyle’s Rubenstein: ‘Buffett May Put You in The Met, We’ll Put You in the Louvre [WSJ MoneyBeat blog]

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