Other Sellers on Amazon
The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success Hardcover – 1 November 2012
Enhance your purchase
Frequently bought together
- Publisher : Harvard Business Review Press (1 November 2012)
- Language : English
- Hardcover : 272 pages
- ISBN-10 : 1422162672
- ISBN-13 : 978-1422162675
- Dimensions : 14.22 x 2.79 x 20.83 cm
- Best Sellers Rank: 24,274 in Books (See Top 100 in Books)
- Customer Reviews:
"Will Thorndike dissects an eclectic and fascinating group of business leaders who created exceptional long-term value. He takes the unique angle of examining great CEOs as chief allocators of capital, so disciplined in their empirical rationality as to be nonconformists in the very best sense. Thorndike's take is fresh, smart, and provocative--and well worth learning." Michael J. Mauboussin, Chief Investment Strategist, Legg Mason Capital Management; author, The Success Equation--
"Will Thorndike provides management principles that are as rock solid as they are rare and shares the engaging stories of eight CEOs who lived by them. The ideas in this book provide both executives and investors with the North Star of value. Follow it and prosper." Mason Hawkins, Chairman and 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." Walter Kiechel, author, The Lords of Strategy--
"If creating wealth for shareholders is the ultimate test of a CEO, meet the champions. The names of these 'outsiders' may come as a surprise, but you will learn valuable strategic lessons from their iconoclastic ways." 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."
About the Author
William N. Thorndike is founder and a managing director of Housatonic Partners, a private equity firm. He is a graduate of Harvard College and the Stanford Graduate School of Business and has been a guest lecturer at the Harvard and Stanford business schools. He is a director of eight companies, and two not-for-profit organizations and lives in the Boston area with his wife and two children.
Review this product
Top reviews from Australia
There was a problem filtering reviews right now. Please try again later.
Top reviews from other countries
1. Full decentralization of operating management;
2. In contrast, capital allocation is kept strongly centralized;
3. Aggressive, big-ticket acquisitons, however these are usually done rarely, or significantly less frequently than in other companies;
4. Share buybacks done infrequently and in bulk. So not a certain amount each year but a few big tender offers for shares at the time when the shares are cheap;
5. Asset sales are used also aggressively, sometimes resulting in a substantial shrinking of the company.
What I found useful and interesting was the description of the work of five CEO-s that were unknown to me before (Tom Murphy, Henry Singleton, Bill Anders, John Malone, Bill Stiritz, Dick Smith). Katherine Graham I knew from her biography. However the author talked a lot about Warren Buffett and there was even one chapter devoted to him. For me this was a bit of a waste as so much is already written about Buffett that it a bit watered down the rest of the material.
As a separate issue I have to mention that from time-to-time I got the feeling that the author was not fully on top of the subject. For example:
1. On page 159 under the chapter „Optimising the Family Firm“, the author describes the added table 7-1 as „outlining sources and uses“. But if i check the table then it is not a sources-and-uses table but rather a description of how much each class of security holders in the acquired distressed HBJ got;
2. On page 174 in the Buffett chapter, the author mentions that the See’s Candy original investment did not really matter because if they would have doubled the acquisition price the return would „still have been a very attractive 21 percent“. This is a bit funny statement -the difference in capital accumulated between 21% and 32% over 27 years is over 10 times!.
The ony reason to give two stars instead of one is that he did choose 8 interesting CEOs to analyse.
Book is incredibly well written, very succinct.
In my humble opinion a book that is a necessary read for anyone who is self-employed, runs a business - small or large, etc.
It is one of the 9 recommended 'must reads' by Warren Buffett.