[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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Fidji Simo - Creating Delightful Consumer Experiences - [Invest Like the Best, EP.328]

Fidji Simo - Creating Delightful Consumer Experiences - [Invest Like the Best, EP.328]

My guest this week is Fidji Simo, the CEO of Instacart. Fidji grew up in a small town in the South of France and was the first person in her family to graduate from high school. Since then, she has ha...

9 Maj 20231h 14min

Bessemer Venture Partners - Building a VC Firm that Lasts Centuries - [Invest Like the Best, EP.327]

Bessemer Venture Partners - Building a VC Firm that Lasts Centuries - [Invest Like the Best, EP.327]

My guests this week are Jeremy Levine, Kent Bennett, and Brian Feinstein. They are partners at one of the oldest and most storied venture firms in the world, Bessemer Venture Partners. Our conversatio...

2 Maj 20231h 18min

Alexis Rivas - A New Blueprint for Homebuilding - [Invest Like the Best, EP.326]

Alexis Rivas - A New Blueprint for Homebuilding - [Invest Like the Best, EP.326]

My guest this week is Alexis Rivas. Alexis is the co-founder and CEO of Cover, which is pioneering a new way of building homes. It’s no surprise to anyone that aspects of our housing market is broken....

25 Apr 202352min

Dr. Peter Attia - The Portfolio to Live Longer - [Invest Like the Best, EP.325]

Dr. Peter Attia - The Portfolio to Live Longer - [Invest Like the Best, EP.325]

My guest this week is Dr. Peter Attia. I’ve had Peter on the show twice before but it’s been over 5 years since his last appearance. In that period, his work has exploded and today he’s one of the cle...

18 Apr 20231h 26min

Scott Davis & Rob Wertheimer - Lessons from the Industrial Titans - [Invest Like the Best, EP.324]

Scott Davis & Rob Wertheimer - Lessons from the Industrial Titans - [Invest Like the Best, EP.324]

My guests today are Scott Davis and Rob Wertheimer. Scott and Rob head up Melius Research and are the authors of a great book called Lessons from the Titans. The book explains what the industrial gian...

11 Apr 20231h 11min

Sam Hinkie, Boyd Varty, Charlie Songhurst - Trail Magic - [Invest Like the Best, EP.323]

Sam Hinkie, Boyd Varty, Charlie Songhurst - Trail Magic - [Invest Like the Best, EP.323]

Today’s episode is a little different. Rather than share a new conversation, I have put together a few of my favourites from the past six and a half years of doing this show. I often listen back to th...

4 Apr 20231h 41min

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

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

Hello everyone. A few days ago, we discussed what we call forever episodes, which are the few episodes of our show that we think will be as popular a decade from now as they are today. When I re-liste...

31 Mars 20231h 25min

David Einhorn - The Long and Short of Investing - [Invest Like the Best, EP.322]

David Einhorn - The Long and Short of Investing - [Invest Like the Best, EP.322]

My guest today is David Einhorn. David is the President of Greenlight Capital, a long-short hedge fund that he co-founded in 1996. He is a prominent value investor with a reputation for rigorous secur...

28 Mars 20231h 13min

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