The Outsiders

William N. Thorndike is the founder and managing director of private equity firm Housatonic Partners. He graduated from Harvard College and the Stanford Graduate School of Business, and he has lectured at both Harvard and Stanford. He serves on the boards of eight corporations and two non-profit organizations.

What characteristics distinguish a successful CEO? Most people recall a well-known definition: "a seasoned manager with extensive industry knowledge." Others may point to the characteristics of today's "celebrity CEOs," such as charm, virtuoso communication abilities, and a confident managerial style. But what actually matters when it comes to running a business? What distinguishes great CEO performance? Simply said, it is the long-term returns for the company's stockholders.

Will Thorndike puts the analytical insight of a successful investing career to bear in The Outsiders, meticulously assessing the performance of firms and their executives. You'll meet eight individualistic CEOs whose firms' average returns beat the S&P 500 by a factor of twenty—that is, a $10,000 investment with each of these CEOs would have been worth more than $1.5 million twenty-five years later. General Cinema, Ralston Purina, The Washington Post Company, Berkshire Hathaway, General Dynamics, Capital Cities Broadcasting, TCI, and Teledyne are just a few of the companies. In The Outsiders, you'll discover the characteristics and tactics that enabled these outstanding leaders to accomplish such exceptional success (notable for their constancy and rigorous logic).

These "outsiders" avoided Wall Street and the press, as well as the hottest new management ideas, because they were humble, quiet, and often frugal. Instead, they shared certain characteristics that propelled them and the companies they led to success: a laser-sharp focus on per share value rather than earnings or sales growth; an exceptional talent for allocating capital and human resources; and the belief that cash flow, not reported earnings, determines a company's long-term value.

Thorndike shares eye-opening anecdotes, extracting lessons and offering a compelling alternative paradigm for anyone interested in running or investing in a company—and reaping spectacular results.

Author: William N. Thorndike

Link to buy: https://www.amazon.com/Outsiders-Unconventional-Radically-Rational-Blueprint/dp/1422162672/

Ratings: 4.6 out of 5 stars (from 1480 reviews)

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