May 26, 2014 a dozen things ive learned about great ceos from the outsiders written by william thorndike may 26, 2014. Eight unconventional ceos and their radically rational blueprint for success, has been making the rounds at burgundy. Others might point to the qualities of todays socalled celebrity ceoscharisma, virtuoso communication skills, and a confident management style. Warren buffett one of the most important business books in america.
Oct 23, 2012 this is an out of the box book, in the era of teslas and netflixes, companies that burn a lot of cash but a worth more than companies with a sound track record of profitability and billions of profits and cash flow. Oct 03, 2015 you are right not because others agree with you, but because your facts and reasoning are sound. The new outsiders of course, the book is a historical study, and most of its profiled ceos are no longer in business buffett, malone, and stiritz. Im talking with william thorndike, the author of the book the outsiders. Over 29 years tom murphy of capital cities produced a 19. It has received high praise in the industry, from hedge fund manager bill ackman, peyto ceo darren gee. He has also written two books of management advice with typically combative titles like straight from the gut. To get an initial understanding of the quality of this book, it. The correct measure of ceo success should be the increase in a companys per share value, especially as compared to peers in the market.
You can think of the different options as the ceos tool kit. Nov 01, 2012 this is an out of the box book, in the era of teslas and netflixes, companies that burn a lot of cash but a worth more than companies with a sound track record of profitability and billions of profits and cash flow. The outsiders is a great book that looks at eight ceos who produced above average returns for shareholders over the long term. I really liked this book because capital allocation rarely gets talked about at the csuite level from my experience. This book looks at a group of ceos that performed extraordinarily well over long periods of time. How the outsiders became one of the most important business.
The outsiders is a collection of eight ceos who eschewed the prevailing wisdom, forging their own path to great returns if not great renown. It is impossible to produce superior performance unless you do some. This is an out of the box book, in the era of teslas and netflixes, companies that burn a lot of cash but a worth more than companies with a sound track record of profitability and billions of profits and cash flow. An outstanding book about ceos who excelled at capital allocation. The outsiders eight unconventional ceos and their radically rational blueprint for success william n. Everyday low prices and free delivery on eligible orders. The book came highly recommended by warren buffett in his annual shareholder letters. Michael dell, chairman of the board of directors and chief executive officer of dell. Sep 07, 2018 i recently finished william thorndikes book the outsiders eight unconventional ceos and their radically rational blueprint for success, and think it is a great read. Oct 23, 2012 mason hawkins, chairman and ceo, southeastern asset management the outsiders is a mustread for leadersand aspiring leadersstriving to become exceptional ceos, and for investors interested in partnering with exceptional stewards of corporate capital. They were not charismatic visionaries who actively managed operations. In his 2012 shareholder letter, buffett praises the outsiders as an outstanding. Great management can transform a good company into a great company, and this book delineates what to look for in superb leaders. Chief outsiders marketing resources including free ebooks, guides, reports and webinars.
As stated in the preface to the book all eight ceos believed, amongst other things that. Jul 01, 2015 bringing in an outsider even an outsider who goes on to succeed is evidence that the board, the ceo and the chief of human resources didnt perform the first responsibility of their jobs. The problem with outsider ceos the washington post. The press focuses too much on a companys growth in revenue and profits. Warren buffett ceo berkshire hathaway in his 2012 shareholder letter, buffett praises the outsiders as an outstanding book about ceos who excelled at capital allocation. Warren buffett one of the most important business books in. William thorndike, founder of private equity firm housatonic partners, is as surprised about the success of his book as anyone. Eight unconventional ceos and their radically rational blueprint for success, written by william n. I would say one of the most important investment books i have ever read. Mar 21, 2019 the truly outstanding ceos usually excel at the latter. This book is just about that ceo s of companies that passed out of the limelight but produced astonishing returns. In the outsiders, youll learn the traits and methodsstriking for their consistency and relentless rationalitythat helped these unique leaders achieve such exceptional performance. Hinton was 15 when she started writing the novel but did most of the work when she was 16 and a junior in high school. An inside look at finding outsider ceos the motley fool.
May 08, 2014 the outsiders may not be a huge best seller, but it is the book that appears to be influencing ceos and big hedge fund and private equitytype investors. The outsiders is a wonderful book that should be read by any serious investor. The outsiders is a great book that looks at eight ceo s who produced above average returns for shareholders over the long term. Next time youre analyzing a potential investment, see if the ceo. In most cases these ceo s were not attention junkies and were not only great capital allocators but also time allocators. But there are certain circumstances in which outsider ceos tend to do better. If you would like to read a more detailed overview of. The outsiders 8 ceos w enormous returns the investors podcast. One chapter is on director tom murphy, who buffett says is overall the best business manager ive ever met. A final reason for the growing prominence of outsiders in ceo turnovers is that the nature of employment has changed dramatically over. There are many ways to raise and to deploy capital. How the outsiders became one of the most important.
Eight unconventional ceos with shortform book summaries. The best ceos are not managers, but capital allocators. Think about how many new ideas youre exposed to in the pages of a book, compared to days in a year of. The outsiders may not be a huge best seller, but it is the book that appears to be influencing ceos and big hedge fund and private equitytype investors. On average, ceos recruited from outside the company perform about the same as those who come up through the ranks, the authors research suggests. Eight unconventional ceos and their radically rational blueprint for. Youve undoubtedly heard of jack welch, the celebrity ceo of the century who generated. At chief outsiders, were on the ground working with businesses to prepare for the coming crisis recovery.
The rise of the outsider ceo as the chiefexecutive exit door swings faster, more companies look externally for the next boss. Eight unconventional ceos and their radically rational blueprint for success. Mar, 2014 tom murphys strategy for success with capital cities is one of eight winning ceo strategies detailed in the book the outsiders, written by william thorndike, a harvard graduate and managing director at the bostonbased private equity firm housatonic partners. The outsiders is about 8 ceos who have enjoyed far better returns on company stock than their peers or the market due to their ability to allocate both financial and human capital. The outsiders eight unconventional ceos and their radically rational blueprint for success. Buy books, tools, case studies, and articles on leadership, strategy, innovation, and other business and management topics.
I recommend it for anyone who owns or runs a business. The outsiders is a book about eight ceos whose companies drastically outperformed the market, primarily through a focus on capital allocation. In most cases these ceos were not attention junkies and were not only great capital allocators but also time allocators. When reading the book, i quickly came to realize that the eight outsiders had similar philosophies regarding the use of these tools. Humble, unassuming, and often frugal, these outsiders shunned wall street and the press, and shied away from the hottest new management trends. Eight unconventional ceos and their radically rational blueprint for success by. Ponyboy curtis, a teenaged member of a loose gang of greasers, is leaving a movie theater when he is jumped by socs, the greasers rival gang.
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