- The man who may have been Treasury Secretary under a President Clinton, BlackRock (NYSE:BLK) boss Larry Fink uses the occasion of his latest annual letter to warn corporate chiefs against using any cash windfalls from Trump tax reform to boost buybacks.
- "Will [cash from tax reforms] be used simply for more share buybacks? Or is it a part of a capital plan that appropriately balances returning capital to shareholders with prudently investing for future growth?”
- Fink may not be heading Treasury, but - with $5.1T in AUM - BlackRock can throw its weight around a bit in corporate boardrooms. Fink is encouraged by at least some attention being paid to "long-term sustainability," but laments the continued "furious pace" of buybacks.
- Buyback ETFs: PKW, SYLD, TTFS, SPYB