[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

Episoder(573)

Universal Music Group: The Gatekeepers of Music - [Business Breakdowns, EP. 32]

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Alex Rampell - Investing in Operating Systems - [Invest Like the Best, EP. 248]

Alex Rampell - Investing in Operating Systems - [Invest Like the Best, EP. 248]

My guest today is Alex Rampell, General Partner at Andreessen Horowitz. Alex has a long history in fintech, having co-founded six companies in his career, including Affirm and TrialPay. During our con...

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Sam Bankman-Fried - Creating a Perfect Market - [Invest Like the Best, EP. 247]

Sam Bankman-Fried - Creating a Perfect Market - [Invest Like the Best, EP. 247]

My guest today is Sam Bankman-Fried, founder and CEO of leading cryptocurrency exchange, FTX. In a little over two years, FTX has registered 1.2 million users, grown to facilitate $10.9 billion of dai...

19 Okt 20211h 17min

Nick Neuman - Becoming Your Own Bank - [Invest Like the Best, EP. 246]

Nick Neuman - Becoming Your Own Bank - [Invest Like the Best, EP. 246]

My guest today is Nick Neuman, CEO and co-founder of Casa. Casa helps bitcoin investors and owners keep their digital assets safe from loss or theft by providing managed self-custody services. In our ...

12 Okt 20211h 6min

Devin Finzer - An Everything Store for Digital Assets - [Founder’s Field Guide, EP. 53]

Devin Finzer - An Everything Store for Digital Assets - [Founder’s Field Guide, EP. 53]

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Jenny Lefcourt - The Go-to-Market Motion - [Invest Like the Best, EP. 245]

Jenny Lefcourt - The Go-to-Market Motion - [Invest Like the Best, EP. 245]

My guest today is Jenny Lefcourt, an equal General Partner at seed-stage venture firm Freestyle Capital, where she manages $450 million in seed investments. Jenny has been engrained in the tech world ...

5 Okt 20211h 4min

Dave Girouard - Making Better Loans - [Founder’s Field Guide, EP. 52]

Dave Girouard - Making Better Loans - [Founder’s Field Guide, EP. 52]

My guest today is Dave Girouard, co-founder and CEO of Upstart, a lending platform that leverages AI to make loans more accessible and affordable. Dave started in Silicon Valley as a Product Manager ...

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Jay Hoag - Calibrating Market Adoption - [Invest Like the Best, EP. 244]

Jay Hoag - Calibrating Market Adoption - [Invest Like the Best, EP. 244]

My guest today is Jay Hoag, co-founder of TCV. If you look at Jay’s investment track record, it’s a “who’s who” of tech giants with Airbnb, Netflix, Peloton, Zillow, and a list that does not stop ther...

28 Sep 20211h 18min

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