Book

The Outsiders

William N. Thorndike

Eight chief executives judged on capital allocation and nothing else. If you read one book before a private equity interview, make it this one.

• Capital allocation
• Leadership
• Investing

1 idea from this book

• FrameworkCapital allocation

  A chief executive is a capital allocator first and an operator second

  Judge a chief executive by what they do with the cash, not by how well they run what produces it.

  Private equity interviews, assessing a management team, and any question about buybacks, dividends or acquisitions.