To place a clip exactly where you want it you can use Spot mode or cut/copy and paste but there is another way which is quicker and more convenient. Simply place your insertion point where you want to place the beginning of the clip and then drag the clip while holding Control on a Mac or Start on a PC. Add Option or Alt to make a copy so the original clip stays where it was.
This is particularly useful when trying to line up clips with events on other tracks as you can simply place your insertion point on the event you wish to line up your clip with, use P or ; to move the insertion point up or down through the tracks in the edit window and then use Control or Start to place your clip, great for tightening up basses with kick drums.
Watch the free video to see this in action.