During the Mams’ US trip, our first stop at Stanford University was truly enlightening, as we engaged with Professor Laurie Hodrick, a distinguished authority in corporate finance. Known for her groundbreaking research on corporate financial decisions, Professor Hodrick delved into various aspects, including corporate cash holdings, capital allocation, and strategic moves like share repurchases and dividends. Her insights on Apple’s buyback and discussions on cash reserves’ impact on Return on Equity were particularly enlightening. In the concluding Q&A session, she shared valuable perspectives on optimal capital allocation and the dynamics of mergers and acquisitions. Interacting with Professor Hodrick was a privilege, offering us profound insights into the realm of finance.