EP27: The Outsiders by William Thorndike

William Thorndike's "The Outsiders" provides a masterclass in capital allocation like no other! The book highlights 8 successful CEOs who have defied conventional management styles and adopted unique investment strategies, such as buying back huge portions of their stock, making acquisitions worth 25% or more of the enterprise value, and avoiding tax-inefficient dividends. Across Warren Buffett, Henry Singleton, John Malone, and the other Outsider CEOs, these executives constantly diverged from the crowd and rewarded shareholders with 20-30% CAGRs! We will learn about many of the qualities these Outsider CEOs shared, including zigging when others zag, hiring the best people, pushing decisions down to the local level, instilling cultures around ROI and cost consciousness, and taking opportunistic positions when the market provides them. I think both investors and operators will thoroughly enjoy this one.

The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success - William Thorndike