With no wasted yarn. But with waste yarn, unless you're like me and can cast on 100st with 6" of a yarn tail. But I don't recommend that as it's a bit cramped working the first two rows. ;)
Do not fear the tubular cast-on. It's ridiculously easy.
Tubular cast-on: Provisionally cast on the necessary number of stitches. Work in tubular stitch for as many rows as directed. Tubular stitch is (k1, slip 1 wyif) to the end, or in my preference, (slip 1 wyif, k1) to the end.
I show it worked with waste yarn first, and with a tail second. I've done it both ways, but really it's simplest just to use waste yarn because it's the easiest to remove, unless you happen to not have any around. Hey, it could happen! What if you run out the door with needles and yarn and cast-on away from home? You never know when you might just want to use a tubular cast-on instead of something else.
1) This is IDENTICAL to my method of provisionally casting on. What makes it a tubular cast-on is working tubular stitch for a multiple of 2 rows.
2) I show this working with the yarn in my left hand, and when I do a tiny bit of ribbing, I work Combined rather than Continental. Sorry English knitters, but I couldn't face having to bring the yarn forward and back constantly. It's not that hard to translate tubular stitch, though. The whole point of bringing the yarn to the front is so the yarn doesn't cross behind the slipped stitch which when flipped over would reveal a bar in front of the slipped stitch. Which leads me to the next point.
3) Tubular stitch is a kind of double knitting. Yep, it is. Half the stitches are worked per pass, which is why it has to be worked in a multiple of 2. It can be worked for as little as 2 rows, but it has
to be worked for at least those 2 rows before the waste yarn is removed. Only after 2 rows of tubular stitch are all the stitches knit and thus secured. In the video, I work 4r of tubular stitch so the pattern shows up better.
4) I start the tubular stitch with a sl1 wyif (= slip 1 stitch purlwise with yarn in front). I do this because of the way I start the CO. If you switched it so the first stitch cast on was before the waste yarn instead of behind it, you could start with a k1 like everyone else does. Anyway, this means the tubular stitch repeat is (sl1 wyif, k1) repeated to the end. This also means if one switches to k1p1 ribbing after casting on this way, it starts on a purl stitch rather than a knit.
5) A tubular cast-on can be worked in the round very easily. Don't let anyone tell you it can't; I've done it. All you have to do is work a round of (sl1 wyif, k1) and alternate it with a round of (p1, sl1 wyib).
6) Tubular stitch is always wide and loose, so work it up on a smaller needle than the body of the knitting, unless you want it to be really loose and flare out for some reason.