Asymptotic Black Holes

Following earlier works on the KMY model of black-hole formation and evaporation, we construct the metric for a matter sphere in gravitational collapse, with the back-reaction of pre-Hawking radiation taken into consideration. The mass distribution and collapsing velocity of the matter sphere are allowed to have an arbitrary radial dependence. We find that a generic gravitational collapse asymptote to a universal configuration which resembles a black hole but without horizon. This approach clarifies several misunderstandings about black-hole formation and evaporation, and provides a new model for black-hole-like objects in the universe.