The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success

An outstanding book about CEOs who excelled at capital allocation. #1 on Warren Buffett's Recommended Reading List. What makes a successful CEO? Most people call to mind a familiar definition: a seasoned manager with deep industry expertise. Others might point to charisma, virtuoso communication skills, and a confident management style. But what really matters when you run an organization? In this refreshing, counterintuitive book, author Will Thorndike brings to bear the analytical wisdom of a successful career in investing, closely evaluating the performance of companies and their leaders. You will meet eight individualistic CEOs whose firms' average returns outperformed the S&P 500 by a factor of twenty. Humble, unassuming, and often frugal, these outsiders shunned Wall Street and the press, and shied away from the hottest new management trends. Instead, they shared specific traits that put them and the companies they led on winning trajectories: a laser-sharp focus on per share value as opposed to earnings or sales growth; an exceptional talent for allocating capital and human resources; and the belief that cash flow, not reported earnings, determines a company's long-term value.