Be Skeptical of Stock Buybacks Today
Conventional wisdom trains investors to see a company stock buyback as a value-creating tool. What better way for a company to reflect confidence in its shares than to buy back shares?
The problem, however, is that the decision to buy back stock is a capital-allocation decision, not an operational decision. And the majority of today's top executives are good operators but are often mediocre capital allocators....504 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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