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

Episoder(574)

Brent Beshore Returns – Private Equity, Venture Capital, and the Future of Money Management - [Invest Like the Best, EP.22]

Brent Beshore Returns – Private Equity, Venture Capital, and the Future of Money Management - [Invest Like the Best, EP.22]

Brent Beshore and I spoke for 10 hours about all things investing and business, and decided to record a 2-hour chunk of our conversation. We start by discussing private equity, venture capital, and th...

31 Jan 20172h 1min

Brian Koppelman – Chasing Curiosity - [Invest Like the Best, EP.21]

Brian Koppelman – Chasing Curiosity - [Invest Like the Best, EP.21]

My guest this week is writer, director, producer, and podcast host Brian Koppelman, who’s film credits include ‘Rounders’, ‘Oceans 13’, and ‘Solitary Man’. More recently he co-created the Showtime sh...

24 Jan 20171h 4min

Jeremiah Lowin – Machine Intelligence and Risk Management - [Invest Like the Best, EP.20]

Jeremiah Lowin – Machine Intelligence and Risk Management - [Invest Like the Best, EP.20]

Jeremiah Lowin is probably the smartest guy I know, and that is saying something. He is an expert in the fields of statistics, artificial intelligence, and risk management—among many other things.  He...

17 Jan 20171h 26min

Lauren Loktev, Kanyi Maqubela, & Craig Shapiro -  Watching a Venture Fund at Work  - [Invest Like the Best, EP.19]

Lauren Loktev, Kanyi Maqubela, & Craig Shapiro - Watching a Venture Fund at Work - [Invest Like the Best, EP.19]

This week’s episode features the partners of the Collaborative Fund, a venture-capital firm based in New York City.  This is a unique, group interview with Lauren Loktev, Kanyi Maqubela, and Craig Sha...

10 Jan 20171h 11min

Dan Egan – Designing Better Decisions - [Invest Like the Best, EP.18]

Dan Egan – Designing Better Decisions - [Invest Like the Best, EP.18]

My guest today is Dan Egan, who is the managing director of Behavioral Finance and Investing at Betterment.  In this wide-ranging role, Dan has his hands is most of the ways that Betterment interacts ...

3 Jan 20171h 9min

Shane Parrish –  Mastering Mental Models   - [Invest Like the Best, EP.17]

Shane Parrish – Mastering Mental Models - [Invest Like the Best, EP.17]

My guest this week is Shane Parrish, who created the extremely popular Farnam Street—a website dedicated to understanding the world by mastering the best of what others have already figured out.  More...

27 Des 201655min

Jeff Ptak –  The Prospects for Active Management  - [Invest Like the Best, EP.16]

Jeff Ptak – The Prospects for Active Management - [Invest Like the Best, EP.16]

Joining me on the podcast this week is Jeff Ptak, head of global manager research at Morningstar.  Jeff’s role puts him in the unique position to discuss the state of active management because he get...

20 Des 20161h 8min

Eric Maddox – The Ace of Spades - [Invest Like the Best, EP.15]

Eric Maddox – The Ace of Spades - [Invest Like the Best, EP.15]

This week we explore a rare and underappreciated skill through the lens of an incredible story. My guest is Eric Maddox, whose name you probably don’t know but won’t soon forget. Just trust me that yo...

13 Des 20161h

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