[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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John Pfeffer - Adapt and Evolve - [Invest Like the Best, EP. 262]

John Pfeffer - Adapt and Evolve - [Invest Like the Best, EP. 262]

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Gavin Baker - The Cyclone Under the Surface - [Invest Like the Best, EP. 260]

Gavin Baker - The Cyclone Under the Surface - [Invest Like the Best, EP. 260]

My guest today is past guest Gavin Baker, managing partner and CIO of Atreides Management. Gavin’s focus is on consumer and tech growth investing, which makes him the perfect person to discuss the blo...

25 Jan 20221h 22min

Sam Englebardt and Richard Kim - Investing in Immersive Worlds - [Invest Like the Best, EP. 259]

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Today, my guests are Sam Englebardt and Richard Kim, general partners at venture fund, Galaxy Interactive. Having come from the media and finance sectors, respectively, Sam and Richard joined forces i...

20 Jan 20221h 22min

Ricky Sandler - Building an Investment Compass - [Invest Like the Best, EP. 258]

Ricky Sandler - Building an Investment Compass - [Invest Like the Best, EP. 258]

My guest today is Ricky Sandler, founder of Eminence Capital. Ricky is a hedge fund veteran managing over $8bn of assets across Eminence's strategies. We cover Ricky's evolution as an active investor,...

18 Jan 20221h 10min

Orlando Bravo - The Art of Software Buyouts - [Invest Like the Best, EP. 257]

Orlando Bravo - The Art of Software Buyouts - [Invest Like the Best, EP. 257]

My guest today is Orlando Bravo, co-founder and Managing Partner of leading private equity firm, Thoma Bravo. Thoma Bravo manages over $90bn of assets and is best known for investing in software and ...

28 Dec 20211h 7min

Nick Saltarelli - One Foot in Front of the Other - [Founder’s Field Guide, EP. 54]

Nick Saltarelli - One Foot in Front of the Other - [Founder’s Field Guide, EP. 54]

My guest today is Nick Saltarelli, co-founder of the functional chocolate bar business, Mid-Day Squares. Nick started the company with his wife and brother-in-law a few years ago to build on a simple ...

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Jenny Johnson - Seven Decades of Investing Expertise - [Invest Like the Best, EP. 256]

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My guest today is Jenny Johnson, President and CEO of one of the world’s largest asset managers, Franklin Templeton. Jenny joined the business in 1988 and has worked in the organization ever since. In...

21 Dec 20211h 5min

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