Released August 2nd, 2022
Will Thorndike - The Power of Long Holding Periods
Will Thorndike is author of The Outsiders and host of 50X. We cover the hallmarks of great compounders, how the best serial acquirers deliver outsized returns, and what he's learned about developing conviction.
Professional Investors
Capital Allocation
Public Equity
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Will Thorndike - How Skilled Capital Allocators Compound Capital
Will Thorndike is an author and investor whose book The Outsiders is one of the best examinations of CEOs and capital allocation. We cover how these CEOs were contrarians in business tactics, lessons for business capital allocation, and Will's experience in private equity.
Nick Howley - TransDigm: Foundations with Nick Howley
Nick Howley is the Founder and Executive Chairman of TransDigm. We cover TransDigm’s foundations under private ownership, dig into its core value drivers, and explore the business's early M&A motion.
Connor Leonard - Capital Light Compounders & Reinvestment Moats
Connor runs the public equity portfolio at Investors Management Corporation. We cover IMC's backstory, business models Connor likes best, and who is on his Mt. Rushmore of capital allocators.
Will Thorndike on CNX, Outsiders and Private Equity
Will discusses investing in CNX, the importance of capital allocation in commodities, and the state of the private equity markets.
The Outsiders
Hear Will talk about what makes for successful CEOs and capital allocators through storied examples and an alternative model for investing.
Business Lessons from Mark Leonard
An examination of Constellation Software's CEO Mark Leonard's shareholder letters and the valuable business lessons contained within.
Serial Acquirers
Letter to shareholders from Scott Management covering the characteristics of those companies that regularly make smart acquisitions.
Studying Serial Acquirers
Expands upon the concept of serial acquirers by looking at specific case studies to find ways of measuring acquirers that scale.
The Many Lives of Iron Mountain
A historical look at the records business of Iron Mountain and its evolution.
Paying Entrepreneurs to Find the Right Business
A look into one of the most successful search funds and one of Will's long term investments, Asurion.
The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success
A book that details the importance of capital allocation and independent thinking through the stories of eight extraordinary CEOs.