The OutsidersRecommendations
About the book
If you're looking for a book that offers profound insights into the world of investing and business, "The Outsiders" by William N. Thorndike is a must-read. This book delves into the unique strategies employed by some of the most successful CEOs who have operated outside the conventional norms of their industries. Thorndike presents compelling case studies of eight remarkable leaders who achieved extraordinary results through unconventional thinking. By reading this book, you'll not only gain valuable lessons on leadership and management but also learn how to embrace innovative approaches in your own endeavors. It's an enlightening journey that encourages readers to think differently about business and the metrics of success.The book comes highly recommended by a diverse group of influential figures, including renowned investors, entrepreneurs, and thought leaders. Notable names such as Warren Buffett and Michael Dell appear on the list, showcasing the book's appeal among seasoned business minds. Many of those who recommended it are leaders in their respective fields, ranging from technology to journalism, indicating a strong endorsement from individuals who have achieved significant success. This collective recommendation suggests that "The Outsiders" resonates deeply with those who value unconventional wisdom and are eager to explore new perspectives on leadership and achievement.
“An outstanding book about CEOs who excelled at capital allocation.” — Warren Buffett
What makes a successful CEO? Most people call to mind a familiar definition: “a seasoned manager with deep industry expertise.” Others might point to the qualities of today’s so-called celebrity CEOs—charisma, virtuoso communication skills, and a confident management style. But what really matters when you run an organization? What is the hallmark of exceptional CEO performance? Quite simply, it is the returns for the shareholders of that company over the long term.
In this refreshing, counterintuitive book, author Will Thorndike brings to bear the analytical wisdom of a successful career in investing, closely evaluating the performance of companies and their leaders. You will meet eight individualistic CEOs whose firms’ average returns outperformed the S&P 500 by a factor of twenty—in other words, an investment of $10,000 with each of these CEOs, on average, would have been worth over $1.5 million twenty-five years later. You may not know all their names, but you will recognize their companies: General Cinema, Ralston Purina, The Washington Post Company, Berkshire Hathaway, General Dynamics, Capital Cities Broadcasting, TCI, and Teledyne. In The Outsiders, you’ll learn the traits and methods—striking for their consistency and relentless rationality—that helped these unique leaders achieve such exceptional performance.
Humble, unassuming, and often frugal, these “outsiders” shunned Wall Street and the press, and shied away from the hottest new management trends. Instead, they shared specific traits that put them and the companies they led on winning trajectories: a laser-sharp focus on per share value as opposed to earnings or sales growth; an exceptional talent for allocating capital and human resources; and the belief that cash flow, not reported earnings, determines a company’s long-term value.
Drawing on years of research and experience, Thorndike tells eye-opening stories, extracting lessons and revealing a compelling alternative model for anyone interested in leading a company or investing in one—and reaping extraordinary returns.
People recommending The Outsiders
What readers say about ‘The Outsiders’
Patrick O'Shaughnessy on The Outsiders
"Contains great lessons for investors because it highlights the importance of capital allocation."
Charlie Munger on The Outsiders
"Details the extraordinary success of CEOs who took a radically different approach to corporate management."
Michael Mauboussin on The Outsiders
"It is, and should at the top of the reading list for CEOs and investors."
Brian Armstrong on The Outsiders
"Stories about eight CEOs and how they mastered capital allocation."
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