[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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Jeremy Giffon - Special Situations in Private Markets - [Invest Like the Best, Replay]

Jeremy Giffon - Special Situations in Private Markets - [Invest Like the Best, Replay]

Today we are replaying one of our most popular episodes from last year with Jeremy Giffon. I spend all my time trying to find people who have some “singularity” to them. People who seem like they can ...

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David Senra - Passion & Pain - [Invest Like the Best, Replay]

David Senra - Passion & Pain - [Invest Like the Best, Replay]

Today, we are replaying what we call a forever episode, which are the few episodes of our show that we think will be as popular a decade from now as they are today. Every time I re-listen to this epis...

16 Juli 20241h 24min

Martin Casado - Entering Uncharted AI Territory - [Invest Like the Best, EP.381]

Martin Casado - Entering Uncharted AI Territory - [Invest Like the Best, EP.381]

My guest today is Martin Casado. Martin is a partner at Andreessen Horowitz and first joined me on Invest Like the Best in 2022. So much has changed since then, and it was awesome to have Martin back ...

9 Juli 20241h 8min

Modest Proposal - AI Commoditization and Capital Dynamics - [Invest Like the Best, EP.380]

Modest Proposal - AI Commoditization and Capital Dynamics - [Invest Like the Best, EP.380]

My guest today is Modest Proposal, joining me for our third conversation and the first in a few years. Modest is anonymous online, but one of the more thoughtful investors I know, overseeing a large p...

2 Juli 202457min

Robert Greene - Optimizing Your Reality - [Invest Like the Best, EP.379]

Robert Greene - Optimizing Your Reality - [Invest Like the Best, EP.379]

My guest today is Robert Greene, author of many books but perhaps most famous for his books "48 Laws of Power" and "Mastery." He has spent his life studying why people behave like they do and why some...

25 Juni 20241h 3min

Pat Grady - Relentless Application of Force - [Invest Like the Best, EP.378]

Pat Grady - Relentless Application of Force - [Invest Like the Best, EP.378]

My guest today is Pat Grady, a longtime growth investor at Sequoia and one of the firms senior leaders. Pat has been a part of a long list of legendary investments, ranging from Snowflake, Zoom, Servi...

18 Juni 20241h 32min

Frank Blake - Leading By Example - [Invest Like the Best, EP.377]

Frank Blake - Leading By Example - [Invest Like the Best, EP.377]

My guest today is Frank Blake. Frank is the former chairman and CEO of Home Depot. I recently interviewed Home Depot co-founder Ken Langone and became fascinated by the business’s impressive lineup of...

11 Juni 20241h 4min

Adam Sandow - The Power of Print Media - [Invest Like the Best, EP.376]

Adam Sandow - The Power of Print Media - [Invest Like the Best, EP.376]

My guest today is Adam Sandow. Adam is the chairman and CEO of SANDOW Companies and the executive chairman and founder of Material Bank. He has built an entire ecosystem of businesses and brands that ...

4 Juni 20241h 6min

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