Thought Capital

Polen Reads: Our 2024 Firmwide Book Selections

Four books our firm read together this year to foster learning and new ideas.
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At Polen, we embrace a culture of lifelong learning, driven by a passion for acquiring new knowledge. Each quarter, we select a book to read collectively as a firm. Through weekly, employee-led discussions, we exchange ideas and constructively challenge our existing assumptions.

Here are four fascinating books we read in 2024, offering lessons on teamwork, investing, and emotional intelligence.

Q1. The Five Dysfunctions of a Team

By Patrick Lencioni

 

Patrick Lencioni explores the challenges that hinder teams from achieving their full potential. Presented as a fictional narrative, the book follows a new CEO as she works to unite a misaligned executive team. Lencioni identifies five key dysfunctions that can undermine teamwork: absence of trust, fear of conflict, lack of commitment, avoidance of accountability, and inattention to results. He provides practical insights and strategies for overcoming these challenges to build a cohesive, high-performing team. The book emphasizes the importance of trust, productive conflict, clarity, accountability, and collective results in driving organizational success.

The lessons of this book established a strong foundation for a year of in-depth work to enhance team dynamics at Polen. All employees completed an initial assessment of the dynamics within their business units, which was followed by firmwide learning experiences conducted both virtually and in person. A follow-up assessment near the end of the year served to identify areas of meaningful progress and further opportunities for improvement. 

See on Amazon

Q2. The Intelligent Investor

By Benjamin Graham

 

This timeless guide to investing outlines foundational principles for building wealth through disciplined, rational decision-making. Graham emphasizes the importance of focusing on the intrinsic value of investments rather than being swayed by market speculation or short-term trends. He introduces the concept of Mr. Market, a metaphorical figure representing the market's erratic fluctuations, and urges investors to remain unemotional and grounded. Key concepts include margin of safety, diversification, and the distinction between defensive and enterprising investing approaches. Above all, the book advocates for a long-term perspective, emphasizing that intelligent investing is about minimizing risk and steadily growing wealth over time.

The investment team members across Polen’s four autonomous investment teams took turns leading the discussions of this book. For many, it was an opportunity to revisit a core text that had helped shape their earliest experiences as investors. These conversations underscored that despite how much the world has changed since the book was first published in 1949 (and revised in 1973), the profound wisdom of Graham’s advice still holds true today.  

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Q3. No Hard Feelings

By Liz Fosslien & Mollie West Duffy

 

Our third-quarter book selection was lighter in tone, but no less important in topic. No Hard Feelings explores the role of emotions in the workplace and offers advice for navigating them effectively. Through a combination of research, stories, and humor, the book challenges the belief that emotions should be left at the door and instead encourages readers to embrace them as a source of strength and connection. It provides insights into building emotional resilience, communicating authentically, handling difficult conversations, and maintaining boundaries to avoid burnout. The authors emphasize that by understanding and harnessing emotions—both our own and those of others—we can foster healthier, more productive, and more fulfilling work environments.

This book was particularly resonant at Polen, given the emphasis that our firm’s culture places on radical candor1 and the freedom to bring one’s whole self to work. The tools presented here are practical and accessible to professionals of all levels and roles. 

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Q4. How to Make a Few Billion Dollars

By Brad Jacobs

 

Brad Jacobs offers a firsthand account of his journey in building multiple billion-dollar companies across various industries, including waste management, equipment rental, and logistics. The book shares the practices and principles that guided his success, emphasizing the importance of strategic decision-making, leadership, and adaptability. Jacobs recounts pivotal moments, from negotiating critical deals to scaling businesses, while illustrating how to identify opportunities, manage risks, and foster innovation. Part memoir and part business playbook, the book serves as an inspiration and blueprint for entrepreneurs striving to achieve extraordinary success.

This book was a fitting selection to close out 2024 at Polen, where we embrace an entrepreneurial, business-owner’s mindset. It encouraged us to reflect on the milestones in our own firm’s growth journey and renew our focus on the challenges and opportunities the new year will bring. 

See on Amazon

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Important Disclosures

1Kim Scott, Radical Candor, 2017. Radical candor is a framework for building better relationships at work. It emphasizes the value of caring personally while challenging directly.

The information being provided is for informational purposes only. Opinions and views expressed constitute the judgment of Polen Capital as of the date of this article and are subject to change without notice. Although the information and any opinions or views given have been obtained from or based on sources believed to be reliable, no warranty or representation is made as to their correctness, completeness or accuracy.

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