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

[REPLAY] 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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Sean Feeney - Reinventing the Restaurant Business - [Invest Like the Best, EP.366]

Sean Feeney - Reinventing the Restaurant Business - [Invest Like the Best, EP.366]

My guest today is Sean Feeney. Sean is the co-founder of Grovehouse Hospitality Group and the owner of Lilia and Misi, two of New York City’s most sought-after restaurants. He left his job in Trading ...

26 Maalis 20241h 50min

Dave Fontenot - The Monastery of Code - [Invest Like the Best, EP.365]

Dave Fontenot - The Monastery of Code - [Invest Like the Best, EP.365]

My guest today is Dave Fontenot, founder of HF0. Born out of Dave’s experiences in monasteries across the world, HF0 is a twelve-week residency for repeat founders to supercharge their next venture. F...

19 Maalis 20241h 5min

Anne-Marie Peterson - The Capital System - [Invest Like the Best, EP.364]

Anne-Marie Peterson - The Capital System - [Invest Like the Best, EP.364]

My guest today is Anne-Marie Peterson. Anne-Marie is an equity portfolio manager at Capital Group, a storied investment firm managing 2.5 trillion dollars and getting ready to celebrate its centennial...

12 Maalis 202459min

Aravind Srinivas - Building An Answer Engine - [Invest Like the Best, EP.363]

Aravind Srinivas - Building An Answer Engine - [Invest Like the Best, EP.363]

My guest today is Aravind Srinivas. He is the founder and CEO of Perplexity, a startup that he describes as an “answer engine” built from scratch with AI. Aravind has set out for perplexity to become ...

5 Maalis 20241h 10min

Ali Hamed - Building an Investment Firm - [Invest Like the Best, EP.362]

Ali Hamed - Building an Investment Firm - [Invest Like the Best, EP.362]

My guest today is Ali Hamed. Ali was first on Invest Like the Best six years ago. He was 26 at the time and four years into building his investing firm, CoVenture. Both then and now, Ali is an example...

27 Helmi 20241h 30min

Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, EP.361]

Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, EP.361]

My guest today is Cyan Banister. Cyan’s life story is remarkable. She was homeless at a young age, dropped out of high school, and five years ago she suffered an extremely rare stroke. Yet, in spite o...

20 Helmi 20241h 27min

Danny Meyer - The Power of Hospitality - [Invest Like the Best, REPLAY]

Danny Meyer - The Power of Hospitality - [Invest Like the Best, REPLAY]

Today, we're replaying my conversation with Danny Meyer. He is the founder and CEO of Union Square Hospitality Group, which comprises some of the most acclaimed restaurants in New York, like Gramercy ...

13 Helmi 202451min

Chuck Akre - The Three Legged Stool - [Invest Like the Best, REPLAY]

Chuck Akre - The Three Legged Stool - [Invest Like the Best, REPLAY]

Today, we're running a replay of my 2019 conversation with legendary investor Chuck Akre. Chuck founded Akre Capital Management in 1989, which now manages approximately $14B dollars. We discuss his in...

6 Helmi 202450min

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