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The Outsiders

Eight Unconventional CEOs and Their Radically Rational Blueprint for Success

Eight contrarian CEOs who crushed the market by mastering capital allocation.

by William N. Thorndike Jr.

The book profiles eight unconventional CEOs (including Warren Buffett, Tom Murphy, and Katharine Graham) whose companies dramatically outperformed the S&P 500. Their common thread was not charisma or vision but disciplined, rational capital allocation: deciding where every dollar of cash flow should go.

Founders eventually become capital allocators, deciding between reinvesting, buying back, acquiring, or returning cash. This book offers a clear, evidence-based playbook for those decisions from leaders who quietly outperformed everyone.

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