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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