Have you ever left a movie theater where a film left you speechless and made you feel like you needed to rewatch parts of it to figure out what you were missing?

Jeff Hooke's book, The Myth of Private Equity, left me feeling that way after finishing each chapter of his tell-all book about the exaggerations and overstatements of the private equity marketing machine.

During this conversation, we learned much about the myths of PE funds focused on leveraged buyouts. Some of the big ideas in this conversation include the enormous fees fund managers are collecting, the poor fund performance these funds generate, and the lack of transparency in their reporting to institutional investors.

We'll also learn about one of Warren Buffett's worst investment decisions and his advice on where retail and institutional investors should invest their money.