The Case Against (Some) Buybacks
https://www.nytimes.com/2023/03/06/opinion/buybacks-chips-act-buffett.html
Related:
https://www.washingtonpost.com/opinions/stock-buybacks-and-a-shaky-economy/2020/07/19/5d31791a-c84c-11ea-8ffe-372be8d82298_story.html
The Economist Who Put Stock Buybacks in
Washington’s Crosshairs
https://www.newyorker.com/business/currency/the-economist-who-put-stock-buybacks-in-washingtons-crosshairs
https://www.nytimes.com/2023/03/06/opinion/buybacks-chips-act-buffett.html
Related:
https://www.washingtonpost.com/opinions/stock-buybacks-and-a-shaky-economy/2020/07/19/5d31791a-c84c-11ea-8ffe-372be8d82298_story.html
https://www.newyorker.com/business/currency/the-economist-who-put-stock-buybacks-in-washingtons-crosshairs
Share Buybacks
https://www.theatlantic.com/magazine/archive/2019/08/the-stock-buyback-swindle/592774/
Financial engineering is replacing real engineering by
Satyajit Das
http://forbesindia.com/article/column/financial-engineering-is-replacing-real-engineering/43343/0
“In reality, share buybacks, etc., boost the stock price by increasing EPS. In the US, buybacks have added around $2 a share to earnings on the S&P 500 index. Given that the firm’s underlying operating performance is unaffected, it is merely financial engineering that does not alter the company’s value. A primary motivation is enhancing the remuneration of senior managers, where stocks and options may constitute as much as 80 percent of the total
https://www.theatlantic.com/magazine/archive/2019/08/the-stock-buyback-swindle/592774/
http://forbesindia.com/article/column/financial-engineering-is-replacing-real-engineering/43343/0
“In reality, share buybacks, etc., boost the stock price by increasing EPS. In the US, buybacks have added around $2 a share to earnings on the S&P 500 index. Given that the firm’s underlying operating performance is unaffected, it is merely financial engineering that does not alter the company’s value. A primary motivation is enhancing the remuneration of senior managers, where stocks and options may constitute as much as 80 percent of the total