Will Thorndike - How Skilled Capital Allocators Compound Capital - [Invest Like the Best, EP.36]

Will Thorndike - How Skilled Capital Allocators Compound Capital - [Invest Like the Best, EP.36]

This week’s guest is Will Thorndike, an author and investor whose book The Outsiders is an all-time favorite of mine. Our conversation is in two parts. First, we dive deep into the lessons of his 8-year research project studying CEOs who were master capital allocators. These CEOs include Henry Singleton, John Malone, Tom Murphy, Katherine Graham, and Warren Buffett. We discuss how these CEOs tended to be contrarians on topics like dividends, buybacks, acquisitions, and the use of debt. As we go through each of the tools in the capital allocators toolkit, you’ll hear several useful lessons for running or evaluating a business. In the second part, we cover Will’s career in private equity. Will founded and continues to run Housatonic Partners, investing in buyouts, recaps, and search funds. Will has been one of the most active search fund investors for decades, and given how much time I’ve spent in past episodes on the searchers or operators in the micro-cap, permanent equity space, it was great to get the perspective of an experienced LP. As always, we also take time to survey the dangers and opportunities in today’s private equity market. For comprehensive show notes on this episode go to http://investorfieldguide.com/thorndike For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag

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Jaksot(594)

Neil Movva - Making AI 10x Cheaper - [Invest Like the Best, EP.488]

Neil Movva - Making AI 10x Cheaper - [Invest Like the Best, EP.488]

My guest today is Neil Movva, founder of Sail. Sail is building what Neil calls a token factory, an inference company designed for a specific kind of future, one where AI agents run in the background ...

25 Elo 1h 18min

Ben Thompson on Big Tech, China, and the AI Boom Running Out of Money - [Invest Like the Best, EP.487]

Ben Thompson on Big Tech, China, and the AI Boom Running Out of Money - [Invest Like the Best, EP.487]

My guest today is Ben Thompson, the founder and author of Stratechery. Ben is one of my favorite business thinkers and I love talking to him about everything happening in markets and technology. We ...

18 Elo 1h 16min

Eric Vishria - A Decade of Lessons Investing in Software & Hardware - [Invest Like the Best, EP.486]

Eric Vishria - A Decade of Lessons Investing in Software & Hardware - [Invest Like the Best, EP.486]

My guest today is Eric Vishria, a General Partner at Benchmark. Eric has spent his career in software and cloud, and few people know the history of these markets as well as he does. What makes him s...

11 Elo 1h 5min

Gavin Baker - AI Market Jitters - [Invest Like the Best, EP.485]

Gavin Baker - AI Market Jitters - [Invest Like the Best, EP.485]

My guest today is Gavin Baker, founding partner and CIO of Atreides Management. This is our seventh conversation, and just two months after Gavin's last appearance. It's about the gap between what th...

4 Elo 1h 5min

Sam Altman - How to Make an Abundant Future - [Invest Like the Best, EP.484]

Sam Altman - How to Make an Abundant Future - [Invest Like the Best, EP.484]

My guest today is Sam Altman, CEO of OpenAI. It's a conversation spanning the history, present, and future of OpenAI, from the origin of ChatGPT through Codex, hardware, and their new Jalapeno chip. ...

28 Heinä 53min

Matthew Smith — Natural Gas: The Next Bottleneck - [Invest Like the Best, EP.483]

Matthew Smith — Natural Gas: The Next Bottleneck - [Invest Like the Best, EP.483]

My guest today is Matthew Smith. Matthew is the founder and CIO of Chronometer Partners, which invests in energy, industrials, materials, power and utilities, and related infrastructure. For the last...

21 Heinä 56min

John Kim - How to Raise a Few Billion Dollars - [Invest Like the Best, EP.482]

John Kim - How to Raise a Few Billion Dollars - [Invest Like the Best, EP.482]

Today my guest is John Kim. John is one of the world's top and most prolific fundraisers. He was chief client officer at General Catalyst, where he helped raise many of the firm's flagship funds. He...

14 Heinä 50min

Jeremy Giffon - The Billion Dollar PDF - [Invest Like the Best, EP.481]

Jeremy Giffon - The Billion Dollar PDF - [Invest Like the Best, EP.481]

My guest today is Jeremy Giffon.  Jeremy has been on the show before as one of our most popular guests, and this conversation is every bit as enjoyable as the first. Over the last 18 months, Jeremy ...

7 Heinä 1h 15min

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