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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Gustav Söderström - How Spotify Thinks - [Invest Like the Best, EP.424]

Gustav Söderström - How Spotify Thinks - [Invest Like the Best, EP.424]

My guest today is Gustav Söderström. Gustav is the Co-President, Chief Product Officer & Chief Technology Officer at Spotify. Gustav lets us behind the scenes on how Spotify thinks about the future of...

20 Maj 20251h 24min

Royce Yudkoff & Rick Ruback - Entrepreneurship Through Acquisition - [Invest Like the Best, EP.423]

Royce Yudkoff & Rick Ruback - Entrepreneurship Through Acquisition - [Invest Like the Best, EP.423]

My guests today are Rick Ruback and Royce Yudkoff. Rick and Royce are Harvard Business School professors who teach their students how to search for, acquire, and run small business directly after grad...

13 Maj 20251h 28min

David Senra - The Focused Few - [Invest Like the Best, EP.422]

David Senra - The Focused Few - [Invest Like the Best, EP.422]

My guest today is David Senra. David is the host of Founders podcast and a dear friend. This is our third time doing Invest Like the Best together and we have conversations like this one all the time....

6 Maj 20251h 21min

Cliff Sosin - Investing in Carvana - [Invest Like the Best, EP.421]

Cliff Sosin - Investing in Carvana - [Invest Like the Best, EP.421]

My guest today is Cliff Sosin. Cliff is the founder of CAS Investment Partners, a fund he started with $5 million in 2012 and has grown to $1.7 billion as of the last reported numbers at the end of 20...

29 Apr 20252h 1min

Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

Welcome to this classic episode. Classics are my favorite episodes from the past 10 years, published once a month. These are N of 1 conversations with N of 1 people. There aren't many people like Cyan...

25 Apr 20251h 25min

Matt Huang - Investing At The Frontier - [Invest Like the Best, EP.420]

Matt Huang - Investing At The Frontier - [Invest Like the Best, EP.420]

My guest today is Matt Huang, co-founder of Paradigm, a leading crypto investment firm with over $12 billion in assets under management. Before launching Paradigm in 2018 with Coinbase co-founder Fred...

22 Apr 20251h 33min

Neil Mehta - Finding Future S&P 500 Companies - [Invest Like the Best, EP.419]

Neil Mehta - Finding Future S&P 500 Companies - [Invest Like the Best, EP.419]

Today's guest is Neil Mehta, founder of Greenoaks Capital. In 2012, aged 27, Neil left D.E. Shaw to start Greenoaks with his friend Benny Peretz. One of their first investments was in Coupang, a South...

15 Apr 20251h 35min

Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

My guest today is Michael Ovitz. Michael is the legendary talent agent and Co-Founder of CAA or Creative Artists Agency and he is joining me on Invest Like the Best for a second time. Michael started ...

8 Apr 20251h 43min

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