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1. Long-term investment: The CEOs in "The Outsiders" often held onto their investments for long periods, demonstrating the value of patience and long-term thinking in investment strategies.
2. Unconventional strategies: These CEOs were not afraid to defy conventional wisdom and pursue unique investment strategies. This could mean investing in unexpected areas or using unusual methods.
3. Focus on income and market share: Instead of focusing solely on balance sheets, these CEOs also considered factors like income, brand name, and market share when making investment decisions.
4. Strategic acquisitions: The CEOs in "The Outsiders" made strategic acquisitions to strengthen their companies, such as Buffett's investment in Capital Cities to acquire ABC.
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A book that received high praise from Warren Buffett, The Outsiders chronicles the unconventional techniques that led eight CEOs to outperform the S&P...
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In the '70s, when fear of inflation was high, Buffett defied the conventional wisdom of investing in hard assets. He instead bought shares of consumer brands and media companies with dominant market positions and franchises and held them for long periods. This was a definite shift in investment strategy from his previous balance-sheet & investment-focused approach to one that emphasized income, brand name, and market share. By the end of the '80s, Buffett had significant positions in the Washington Post, GEICO, and General Foods. In 1986, he made a massive $500 million investment to help Tom Murphy of Capital Cities acquire ABC. Berkshire now owned 18% of Capital Cities.
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