What is Apollo? No firm better embodies(体现，代表) the transformation of the private-equity industry from the pin-striped corporate raiders of the late 20th century to the post-modern financial savants of today: it is part insurer, hedge fund, bank and university finance department. Yet its succession drama, recounted in “Money to Burn”, a forthcoming book by William Cohan, might as well(倒不如，简直就像) be drawn from the pages of a Tom Wolfe(美国作家，以社会讽刺小说闻名) novel.
阿波罗是什么？没有哪家公司能更好地体现私募股权行业从20世纪末身着细条纹西服的企业掠夺者向当今后现代金融专家的转变：它既是保险公司，又是对冲基金、银行和大学财务部门。然而，其继承权之争的戏剧性，在威廉·科汉即将出版的新书《钱在燃烧》中有所叙述，简直就像是从汤姆·沃尔夫小说中走出来的一样。
The story starts with Michael Milken, a junk-bond(垃圾债券，高风险债券) trader who led a financial revolution from the Los Angeles office of Drexel Burnham Lambert, an investment bank. He more or less(或多或少，差不多) created the market for risky corporate debt. On Wall Street, that is equivalent to having discovered fire.(在华尔街，这相当于发现了火。) In 1990 Drexel collapsed and Mr Milken pleaded guilty(认罪) to fraud.
故事始于迈克尔·米尔肯，一位垃圾债券交易员，他在投资银行德雷克塞尔·伯纳姆·兰伯特的洛杉矶办公室领导了一场金融革命。他或多或少地创造了高风险公司债务市场。在华尔街，这相当于发现了火。1990年，德雷克塞尔倒闭，米尔肯先生对欺诈指控认罪。
Thus scattered his disciples. Some firms fail spectacularly but are quickly forgotten, whereas Drexel has enjoyed an afterlife(来世，死后生命) among the gods. Apollo was started by Leon Black, a Milkenite(米尔肯的信徒) who ran Drexel’s merger-advice department. Two other investment firms, Ares and Cerberus(希腊神话中的战神和地狱三头犬), were built by Drexel alumni. So was Moelis, an investment bank. Even Goldman Sachs is now run by a former Drexel banker.
于是他的门徒四散。有些公司失败得轰轰烈烈，但很快被遗忘，而德雷克塞尔却在众神之中享受了来世。阿波罗由莱昂·布莱克创立，他是米尔肯的信徒，曾掌管德雷克塞尔的并购咨询部门。另外两家投资公司，阿瑞斯和刻耳柏洛斯，由德雷克塞尔的校友建立。投资银行莫里斯也是如此。就连高盛现在也由一位前德雷克塞尔银行家经营。
Twilight of the gods
众神的黄昏