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The Price of Experience: Power, Money, Image, and Murder in Los Angeles, by Randall Sullivan
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A founder of the exclusive Billionaire Boys Club, Joe Hunt controlled $100 million in assets, as well as the club's members--whose devotion was no less than cultish. But when the deals began to sour, Hunt's extreme reactions led to kidnapping--and murder. A story of greed and moral nihilism that perfectly illuminates the 1980s.
- Sales Rank: #1013845 in Books
- Brand: Brand: Atlantic Monthly Pr
- Published on: 1996-04
- Original language: English
- Number of items: 1
- Dimensions: 9.50" h x 6.25" w x 2.00" l,
- Binding: Hardcover
- 705 pages
- Used Book in Good Condition
From Publishers Weekly
As much a cultural history of L.A. in the 1980s as a true-crime account, freelance journalist Sullivan's study of the so-called Billionaire Boys Club and its sociopathic leader, Joe Hunt, offers a remarkable array of elaborate deceptions and double crosses, all bound together in a gripping narrative. Hunt was a magnetic figure whose unruffled assurance and flamboyant techniques as a young commodities trader drew to him a circle of loyal disciples and eager investors. Forming a corporation, the BBC, with a group of extremely well-connected but shiftless men, Hunt gathered millions in investment capital, money that he embezzled and lost in reckless trading while deceiving his investors. As conspicuous consumption and poor business decisions further unraveled the BBC, Hunt resorted to increasingly violent criminal tactics. Eventually, pursued by law enforcement agencies as a suspect in cases ranging from murder to kidnapping to violating SEC codes, Hunt was convicted of murder in 1987. He initiated an appeal process that continues to this day. Sullivan does a superlative job of bringing together an elaborate chain of events, offering considerable insight not just into Hunt but into an entire cast of disturbed and disturbing characters.
Copyright 1996 Reed Business Information, Inc.
From Library Journal
This is an epic account of the Billionaire Boys Club case, in which Joe Hunt organized a cadre of former classmates and other gifted young men for the purpose of turning large profits in financial markets. Hunt was charisma incarnate, capable of selling his schemes to naive investors and his ideas (in the form of his amoral Paradox philosophy) to ingenuous followers. He played fast and loose with other people's money, lost much of it, turned to increasingly more desperate measures, got deeper in debt, and ultimately participated in at least two murders in an effort to save himself. This chronicle follows Hunt's story from his days at the prestigious Harvard School in California to his meteoric rise in investment circles and in Los Angeles high society. Sullivan's book tracks Hunt's history with Dreiserian specificity, piling up the details to present a picture of startling clarity and brilliance. This is a true-crime book that truly transcends the genre and is essential for all general collections.
--Ben Harrison, East Orange P.L., N.J.
Copyright 1996 Reed Business Information, Inc.
From Kirkus Reviews
This exceptionally captivating narrative, tracing the glittering rise and bloody fall of the Billionaire Boys Club, lives up to its subtitle's lofty, lurid promise. Joe Gamsky, a latter-day Jay Gatsby, grew up poor but smart enough to win a scholarship to L.A.'s posh Harvard School. Joe became friendly with schoolmate Dean Karny, and the two remained close after Joe (who changed his last name to Hunt) began a stint as a trader in Chicago. After losing millions on speculative trades and being expelled from the Mercantile Exchange, he rebounded, starting a new venture in Los Angeles, the Billionaire Boys Club, with Karny. The two attracted their richest friends from the Harvard School, and soon money was pouring into the BBC coffers for the stated purposes of technological research and investment. Sullivan (whose 1986 Esquire article on Hunt was the origin of this book) expertly details the grand ambitions of the BBC, which seemed achievable for a time. But the boys were greedy, as they candidly admitted to Sullivan; and Hunt's ability to manipulate their parents, along with his Ponzi and pyramid schemes, relied on a constant influx of cash. When Hunt matched wits with Ron Levin, a far superior con artist, the BBC was doomed. Karny provides fascinating details about the BBC's slide into a total amorality, rooted in avarice and almost cultlike devotion to the emotionally contained but charismatic Hunt. The result was the murder of Levin and two others. This archetypal L.A. story, set against the waning '80s, takes a further twist when Karny enters the Witness Protection Program, sending Hunt and other BBC members to jail for life. But Hunt has already gained what amounts to an acquittal on one murder charge, and he is fighting for a new trial on his outstanding convictions. Thoroughly researched and compulsively readable, an essential entry in the true-crime canon. (First printing of 50,000; $50,000 ad/promo; author tour) -- Copyright ©1996, Kirkus Associates, LP. All rights reserved.
Most helpful customer reviews
0 of 0 people found the following review helpful.
Five Stars
By Amazon Customer
Superb
6 of 6 people found the following review helpful.
Superb
By Patrick
This is a fascinating book and Sullivan recounts, in vivid detail, the rise and fall of the Billionaire Boys Club. Everything from the description of social dynamics at the Harvard School (which hold true today) to the financial dealings of the BBC to the astonishing and shocking trials makes it a pleasure to read. It is truly a remarkable story, and it is narrated superbly by Sullivan. A must-read for anyone who wants to understand the 1980s or Los Angeles, or has a passing interest in one of the most enthralling trials in modern California history.
My only regret is that there's not an updated version to tell us what became of Joe Hunt, Dean Karny, Jim Pittman, Ben Dosti and the other characters in the BBC.
13 of 14 people found the following review helpful.
A Classic
By A Customer
This is one of the great overlooked books of the 90's. It was overlooked, I believe, because of its length and the timing of its release: over a decade after its subjects, Joe Hunt and the Billionaire Boys Club, were in the media spotlight. What a shame because it a flat out masterpiece. As far as true crime books go this is a landmark and the top of the heap. Not only is it incredibly researched and hard to put down, but it is an amazing cultural history of Los Angeles and its reflection of America during the Reagan era. Out of the hundreds of books I have read concerning Los Angeles and American society and culture in general, none depicts so well out obsession with power, money, and image as Sullivan's book does. A hundred years from now I hope it will be read in American Studies, History, and English classes in universities along with such thematically similar books as The Great Gatsby, Sister Carrie, Davis' City of Quartz, Ellroy's LA Quartet and such films as The Godfather, Goodfellas, Chinatown, Mean Streets, LA Confidential, and American Beauty. Let's hope it stays in print. Read this classic.
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