[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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Katherine Boyle - Investing for America - [Invest Like the Best, EP.290]

Katherine Boyle - Investing for America - [Invest Like the Best, EP.290]

My guest today is Katherine Boyle, a general partner at Andreessen Horowitz. Katherine started her career as a reporter for The Washington Post before moving into VC at General Catalyst. She now leads...

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Ravi Gupta - Focus - [Invest Like the Best, EP.289]

Ravi Gupta - Focus - [Invest Like the Best, EP.289]

My guest today is Ravi Gupta. Ravi spent a decade in private equity at KKR before joining Instacart as their first CFO and COO. He navigated them through a critical moment in their history and returne...

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Will Thorndike - The Power of Long Holding Periods - [Invest Like the Best, EP.288]

Will Thorndike - The Power of Long Holding Periods - [Invest Like the Best, EP.288]

My guest today is Will Thorndike. I first spoke to Will in 2017 about his excellent book The Outsiders and his career in private equity. I titled that conversation: How Skilled Capital Allocators Comp...

2 Elo 20221h 1min

Alok Vasudev - Searching for White Space - [Invest Like the Best, EP.287]

Alok Vasudev - Searching for White Space - [Invest Like the Best, EP.287]

My guest today is Alok Vasudev. Alok is an early-stage investor who has been in the crypto space for a very long time. Before co-founding Standard Crypto, he was an investor at Benchmark and S28 Capit...

26 Heinä 20221h 14min

Matthew Ball - A Manual to The Metaverse - [Invest Like the Best, EP.286]

Matthew Ball - A Manual to The Metaverse - [Invest Like the Best, EP.286]

My guest today is Matthew Ball. Matt is an investor, the former head of strategy at Amazon studios, and one of the brightest minds in the media industry. Through his essays and now his book, which lau...

19 Heinä 20221h 22min

TransDigm: Foundations with Nick Howley [50X, EP.1]

TransDigm: Foundations with Nick Howley [50X, EP.1]

Today we are dropping a special episode in the Invest Like the Best feed. You will hear the first episode of 50X – a new series from Will Thorndike and the team at Compounding Labs, in partnership wit...

14 Heinä 20221h 26min

Alice Bentinck - Building a Start-Up Machine - [Invest Like the Best, EP.285]

Alice Bentinck - Building a Start-Up Machine - [Invest Like the Best, EP.285]

My guest today is Alice Bentinck, co-founder of Entrepreneur First. Entrepreneur First, or EF, invests pre-company by systematizing the way that talented individuals find co-founders, develop ideas, a...

12 Heinä 20221h 6min

Jess Lee - Designing Investment Products - [Invest Like the Best, EP.284]

Jess Lee - Designing Investment Products - [Invest Like the Best, EP.284]

My guest today is Jess Lee. Jess is a partner at Sequoia Capital as well as their Chief Product Officer. Before becoming an investor, Jess co-founded fashion app, Polyvore, and was an early product m...

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