FYI: There is an inherent tension between those favoring and opposing corporate stock buybacks. Today let’s see if we can reconcile the views of the two groups, finding a middle ground.
Those who favor share repurchases point out that they are no different from dividends from a balance-sheet perspective — it is a way to return cash to shareholders. Those buybacks reduce the total number of shares used in earnings per share calculations. Companies that buy back shares find their way into equity screens that outperform as a group. Anywhere you can find market-beating alpha is a win.
Regards,
Ted
https://www.bloomberg.com/opinion/articles/2018-11-30/fans-and-foes-of-buybacks-aren-t-in-disagreement
