The Warren Buffett Way: Mastering the Art of Capital Allocation
ฝัง
- เผยแพร่เมื่อ 5 มิ.ย. 2024
- 00:00 - Intro, Gannon Compilation
01:30 - Capital Allocation: Definition and Corporate Strategies
04:20 - Warren Buffett's Approach to Capital Reallocation, with a Focus on Return on Capital (ROC)
06:30 - Exploring the Relationship Between Return on Capital and Stock Returns Over Time
07:27 - How Capital Allocation Has Evolved
10:36 - The Outsider’s Method of Capital Allocation
14:21 - Comparing Regular and Variable Dividends
17:38 - Cash Cow Businesses
19:33 - Leveraged Recapitalizations
20:47 - Buybacks Versus Acquiring Another Company
30:05 - The Implications of Buybacks at High Valuations
31:22 - Distinguishing Excellent Capital Allocators from Average Managers
39:51 - Identifying Red Flags
51:00 - Private to Public P/E Arbitrage
59:00 - Incentive Structures for Effective Capital Allocation
01:05:57 - Assessing Capital Allocation Skills:
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We are an exclusive, members-only platform for buy-and-hold value investors. Delve into research write-ups penned by hedge fund manager, Geoff Gannon. Immerse yourself in insights and strategies, surrounded by a community of investors who stand by the teachings of legends like Buffett, Munger, and Fisher, rather than fleeting market trends.
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One structure for good capital allocation is insider ownership, especially being founder led
Can you elaborate how to calculate return on capital
does anyone else skip the intro every time?
Intro is the best part. Can’t miss Andrew’s Welcome Welcome Welcome!
Yes
I only watch the intro
Thanks for this. Just one thing I'd call out regarding the talk around 30:00.
As a software engineer, I have seen the breadth of the products and services Apple has and how they have acquired different companies.
They had also acquired my friend's startup in 2020.
It amazes me that Apple just goes under the radar so much. They are very good at integrating other products and packaging them inside Apple.
List of acquisitions by them: en.wikipedia.org/wiki/List_of_mergers_and_acquisitions_by_Apple
Buffett would answer the question about how has capital allocation changed by saying "it hasnt whatsoever"
The question indicates a lack of understanding of what capital allocation is