One of my favorite investing books is The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success, by William N. Thorndike. In fact it’s also the top choice on Warren Buffett’s reading list. The book provides stories on eight of the most successful CEOs in history who were great capital allocators.
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One of my favorite chapters is on Teledyne CEO Henry Singleton, who Buffett said had the best operating and capital deployment record in American business. While the whole chapter is a must read I pulled out the following excerpt on Singleton:
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