The Main Focus of William N. Thorndike’s Book The Outsiders

This business book examines the management strategies of eight successful CEOs who achieved remarkable success by making unconventional decisions. It describes how these CEOs, who Wall Street and the media often overlooked, outperformed their peers by implementing common principles, such as capital allocation, frugality, and a focus on long-term value creation. The CEOs featured in the book include Warren Buffett of Berkshire Hathaway, John Malone of Liberty Media, and Katharine Graham of The Washington Post.

According to Roshan, the importance of capital allocation, which involves making decisions about investing a company’s resources, is a crucial aspect that defines a successful CEO. He believes the book provides a unique perspective on successful management strategies and a blueprint for how companies can achieve exceptional results by implementing unconventional approaches to business. Investors can in turn use this information to gauge whether or not to invest in a particular company. 

Planning For Qualified Charitable Distributions

If you’re focused on generosity and want to do so for the rest of your life, here’s something you should know. Roth conversions are a lifesaver. However, if you’re careless and you go too far with the Roth conversion, even if you do it wisely and you do it during a year in which you’re in a relatively low marginal income tax bracket, guess what? You’ll lose a great opportunity – the opportunity to never pay any taxes on it, ever. How could that possibly happen? Well, it’s using something known as a qualified charitable distribution or QCD. QCD is when at age 70½ or later, you instruct the custodian of your IRA to send a check directly to the 501 (c) (3) charity you would like to fund. And when you do that, you’ll be in a position to avoid any tax at that time because a qualified charitable distribution is not included in a person’s taxable income.

Links and Resources:

The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success  by William N. Thorndike