[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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Max Simkoff - Redesigning the Home Buying Experience - [Founder’s Field Guide, EP. 47]

Max Simkoff - Redesigning the Home Buying Experience - [Founder’s Field Guide, EP. 47]

My guest today is Max Simkoff, Founder and CEO of Doma. Max founded Doma in 2016 after experiencing the pain and manual process associated with title insurance and real estate transactions. With a bac...

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Suzanne Ciani - Exploring the Creative Process - [Invest Like the Best, EP. 239]

Suzanne Ciani - Exploring the Creative Process - [Invest Like the Best, EP. 239]

The intro music you just heard is from my guest today, Suzanne Ciani, an early pioneer of electronic music dating back to the 1970s. As a 5-time Grammy-nominated composer, Suzanne’s music can be heard...

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Sameer Shariff - Breaking Language Barriers - [Founder’s Field Guide, EP. 46 ]

Sameer Shariff - Breaking Language Barriers - [Founder’s Field Guide, EP. 46 ]

My guest today is Sameer Shariff, co-founder and CEO of Cambly. After starting his career at Google, Sameer founded Cambly in 2013 as an on-demand service to learn English. At the touch of a button, C...

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Sridhar Ramaswamy - The Past, Present, and Future of Search - [Invest Like the Best, EP. 238]

Sridhar Ramaswamy - The Past, Present, and Future of Search - [Invest Like the Best, EP. 238]

My guest today is Sridhar Ramaswamy, co-founder and CEO of Neeva and Venture Partner at Greylock. After a 15-year career building Google’s ad business, Sridhar launched Neeva as an ad-free search engi...

10 Aug 20211h 19min

Ernie Garcia - Disrupting the Auto Buying Experience - [Founder’s Field Guide, EP. 45]

Ernie Garcia - Disrupting the Auto Buying Experience - [Founder’s Field Guide, EP. 45]

My guest today is Ernie Garcia, co-founder and CEO of online used car platform, Carvana. Ernie launched Carvana in 2012, and less than a decade later, the business commands a $60 billion valuation whi...

5 Aug 20211h 16min

Karen Karniol-Tambour - All Things Macro - [Invest Like the Best, EP. 237]

Karen Karniol-Tambour - All Things Macro - [Invest Like the Best, EP. 237]

My guest today is Karen Karniol-Tambour, Partner and Co-CIO for Sustainability at Bridgewater Associates. You will quickly understand why Ray Dalio described Karen as a “vacuum cleaner of learning” - ...

3 Aug 20211h 21min

Sebastian Mejia - Mastering On-Demand Convenience - [Founder’s Field Guide, EP. 44]

Sebastian Mejia - Mastering On-Demand Convenience - [Founder’s Field Guide, EP. 44]

My guest today is Sebastian Mejia, co-founder and president of Rappi. Founded in Bogota, Colombia in 2015, Rappi set out to create an on-demand convenience store and has expanded into nine countries a...

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Carl Kawaja - Wisdom from Decades of Investing - [Invest Like the Best, EP. 236]

Carl Kawaja - Wisdom from Decades of Investing - [Invest Like the Best, EP. 236]

Today’s conversation is one of my all-time favorites, with someone I’ve come to respect deeply in the field of investing. My guest is Carl Kawaja, who has served as a portfolio manager at Capital Grou...

27 Juli 20211h 30min

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