Books

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

These great owner-operators return to owners and shareholders was many times greater than their peers or industry averages…over decades.

Each was a great capital allocator. They understood they have 5 basic options: invest in existing operations, pay dividends, acquire other businesses, reduce debt, and/or buy back stock.

These CEO’s made money in during good times AND during recessions or downturns in their industries. It didn’t matter what industry they were in, they were consistently wildly successful over decades.

How did they do it? They viewed the 5 basic options as a tool kit. How they combined different options in different markets made the difference.

Their companies were not located in primary cities or financial markets. That certainly helped them ignore the “herd” instinct that governs many companies.

A key for each of these CEO’s was that they and their boards had major equity positions in their companies. They shared in the good times and suffered in bad times.

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