The Outsiders
Eight Unconventional CEOs and Their Radically Rational Blueprint for Success
About the book
The true test of a chief executive, in William N. Thorndike's account, is long-term return to shareholders rather than charisma or deep industry experience. Drawing on his career in investing, Thorndike profiles eight CEOs whose companies beat the S&P 500 by an average factor of twenty, at firms including Teledyne, Capital Cities Broadcasting, Berkshire Hathaway, TCI, General Dynamics, General Cinema, Ralston Purina and The Washington Post Company. These leaders were modest and often frugal, avoided Wall Street and the press, and ignored management fashions. What they shared was a focus on value per share over growth in sales or earnings, a talent for allocating capital and people, and a belief that cash flow counts for more than reported earnings.
Michael Dell praised it as a good read for business leaders, especially those ready to go their own way.
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This book has 4 recommendations
Mason Hawkins (CEO/Southeastern Asset Management)
The Outsiders is a must-read for leaders—and aspiring leaders—striving to become exceptional CEOs, and for investors interested in partnering with exceptional stewards of corporate capital.
Thomas A. Russo (Partner/Gardner Russo & Gardner)
The Outsiders celebrates leaders who kept their firms focused, rewarded their management despite long periods of inactivity, and—by keeping their companies out of trouble—found themselves free to pounce when compelling opportunities arose. A highly effective playbook for excellence
Michael Dell (CEO/Dell)
Thorndike explores the importance of thoughtful capital allocation through the stories of eight successful CEOs. A good read for any business leader but especially those willing to chart their own course
On David Senra’s Founders Podcast: #431 How Henry Singleton Worked
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Mason Hawkins, Thomas A. Russo, Michael Dell, David Senra