If I read one more story about how buying back your own stock is a greedy thing to do - I'm gonna flip out. Week after week on ZH I read headlines like these:
"If you said just more of the same, with corporate management teams buying back their own stock in near record quantities (boosting their own stock-linked compensation in the process) and serving as the biggest marginal buyer in the market, then give yourself a pat on the back."
To be fair, it's not only ZH. It's businessweek. It's cnbc. I think all these people can suck a bag of sandy dicks.
The implication is that they are only trying to get richer. And possibly so! Who the fuck cares? But if I'm a corporation who is looking at the vast business landscape right now - the only thing I want is less of my companies stock floating around. Even if I have to borrow to do it!
Does this boost the price of the stock because there is less stock available? YES. But it also makes it so when the market crashes your stock will presumably crash less hard because the available people with stock is also less.
So sure - those greedy effers are trying to make it sure their companies don't die in the next downturn. What assholes.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment