The best executives are made, not born. They absorb information, study their own experiences, learn from their mistakes, and evolve. I had incredible teachers. My parents taught me the values of honesty, common decency, and achievement, and the importance of generosity toward others. My high school track coach, Jack Armstrong, helped me develop a high tolerance for pain and to understand the power of preparation, essential lessons for any entrepreneur. Today it is the world’s largest manager of alternative assets. Conventional assets are cash, stocks, and bonds. The broad category of “alternatives” includes pretty much everything else. We build, buy, fix, and sell companies and real estate. The companies we invest in employ more than 500,000 people, making Blackstone and its portfolio companies one of the largest US-based employers and one of the largest employers anywhere in the world. We find the best hedge fund managers and give them money to invest. We also lend money to c...