How Skilled Capital Allocators Compound Capital

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[00:02:40] – (first question) –  The first moment when Will realized he was interested in investing as a job

[00:04:07] – What was the journey like that led Will into the private equity space

[00:05:19] – How the book started as research projects

[00:09:53] – The ways to spend capital

[00:10:21] – What did Will find as far as the way the CEO’s outlined in his book viewed dividends and how they were best used

[00:11:56] – Will’s take on the future of dividends

[00:15:10] – Moving to buybacks as a way as a strategy

[00:19:01] – What did the 8 CEO’s think of capex and reinvesting in the business as a strategy

[00:23:19] – Why it’s so important to set hurdle rates and stick with them

[00:25:27] – The CEO’s in the book were flexible and opportunistic.  How is that different from CEO’s like an Elon Musk who has a huge grand vision

[00:26:56] – How did the CEO’s use acquisitions as a strategy

[00:30:49] – The importance of rationalizing your expenditures

[00:32:02] – The right and wrong way to use debt as a public company

[00:34:34] – If Will could pick one of the 8 outsider CEO’s and a business, which ones would he choose

[00:40:41] – Touching on the importance of partnerships to make sure the cash flows are coming and allocated in a productive way

[00:43:54] – Will is asked to talk about the experience of this book and what is like to see it grow into a best seller.

[00:45:02] – If Will had to write another book, what would it be about

[00:47:09] – Shifting to Will’s day job in private equity and how he got involved in search funds

[00:52:50] – Any new investing categories that are on worth exploring

[00:54:13] – What is the state of recaps and buyouts as strategies today

[00:58:33] –  Are there particular industries that have economic characteristics Will screens for or ignores

[01:01:23] – Exploring Will’s most memorable day

[01:03:01] – The strength of an investment firm is often found in the quality of their investors

[01:04:07] – What is and what is Will’s process for evaluating a business

[01:07:55] – Kindest thing anyone has ever done for Will