billm47645

Studies have shown that companies buyback their stock near all time highs.  Buying stock is basically a 50/50 shot through a Monte Carlo simulator.  The only thing that matters is that you are on the right side of a bull market and easy liquidity through the FED.    Yes, a lot of people have gotten lucky buying Apple 10 years or more ago, but for every Apple there are 500 other companies that could have been Apples but are either no longer around or are basically irrelevant.  If Apple’s executives were such geniuses, perhaps they would have waited until possibly now to begin their buybacks?  Because when it comes to financial markets, they are novices getting scammed by Wall Street and recently they don’t seem to do what they are supposed to be doing all that well either.  Some of the best long term returns on Wall Street believe it or not are utility companies and guess what they do? Pay dividends.  There probably is a time and place for buybacks, but for the most part it is short term financial engineering IMO.