Book available on Amazon from William N. Thorndike, managing director of Housatonic Partners.
Summary: “A book that details the extraordinary success of CEOs who took a radically different approach to corporate management.”
The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success by William N. Thorndike touches on the subject of shareholder buybacks. The book examines the leadership and strategies of eight CEOs, one of whom is Warren Buffett. It highlights how these CEOs, including Buffett, focused on maximizing shareholder value, with one of the strategies being share repurchases.
Thorndike discusses how these CEOs would often repurchase shares when they believed their companies were undervalued, using excess capital to buy back stock rather than making acquisitions or paying dividends. This approach was part of their broader strategy to allocate capital effectively, aiming to increase per-share value for shareholders. The book suggests that these buybacks were a key tool in creating value for shareholders, aligning with the idea that buybacks, when done correctly, can be a powerful way to return capital to investors.
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