The Outsiders
The Outsiders
William N. Thorndike
Sam Hinkie
A business-y thing. - Sam Hinkie
Brian Armstrong
Stories about eight CEOs and how they mastered capital allocation. - Brian Armstrong
Warren Buffett
An outstanding book about CEOs who excelled at capital allocation. - Warren Buffett
Michael Dell
A good read for any business leader but especially those willing to chart their own course.- Michael Dell
Charlie Munger
Details the extraordinary success of CEOs who took a radically different approach to corporate management. - Charlie Munger
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The Outsiders

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

William N. Thorndike
By
William N. Thorndike
4.2
646
ratings on Goodreads

In the business world, where the spotlight often falls on charismatic leaders and groundbreaking products, "The Outsiders" by William N. Thorndike presents a compelling alternative narrative. This meticulously researched book shifts the focus to eight unconventional CEOs, whose companies outstripped the S&P 500 by a staggering factor of twenty. Thorndike delves into the stories of these unique leaders, from lesser-known titans of industry to giants like Berkshire Hathaway, revealing a consistent pattern of rational, counterintuitive decision-making that propelled their companies to extraordinary long-term success. Through the lens of these exceptional leaders, Thorndike dismantles the conventional wisdom surrounding CEO performance, illuminating the profound impact of their strategic focus on per-share value, their masterful allocation of capital, and their unwavering belief in cash flow as the true measure of a company's worth. "The Outsiders" is not just a series of business biographies but a clarion call to rethink leadership and success in the corporate world. Thorndike's narrative is grounded in rigorous analysis yet rendered with a storyteller's flair, making the book a treasure trove of insights for aspiring leaders, investors, and anyone intrigued by what truly makes a difference in the upper echelons of business. By highlighting the shared traits and methods of these outlier CEOs—such as their humility, frugality, and avoidance of the limelight—Thorndike provides a blueprint for achieving exceptional returns, challenging readers to reconsider what it means to lead effectively.

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Released
2012
1 Jan
Length
251
Pages

7

recommendations

recommendation

A good read for any business leader but especially those willing to chart their own course.- Michael Dell
A business-y thing. - Sam Hinkie
Stories about eight CEOs and how they mastered capital allocation. - Brian Armstrong
It is, and should at the top of the reading list for CEOs and investors. - Michael Mauboussin
Details the extraordinary success of CEOs who took a radically different approach to corporate management. - Charlie Munger
Contains great lessons for investors because it highlights the importance of capital allocation. - Patrick O'Shaughnessy
An outstanding book about CEOs who excelled at capital allocation. - Warren Buffett
Basically, CEOs have five essential choices for deploying capital—investing in existing operations, acquiring other businesses, issuing dividends, paying down debt, or repurchasing stock—and three alternatives for raising it—tapping internal cash flow, issuing debt, or raising equity. Think of these options collectively as a tool kit. Over the long term, returns for shareholders will be determined largely by the decisions a CEO makes in choosing which tools to use (and which to avoid) among these various options. Stated simply, two companies with identical operating results and different approaches to allocating capital will derive two very different long-term outcomes for shareholders.
— William N. Thorndike, The Outsiders

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