pelican

Don't Buy Into Share Buybacks

I can't agree with you completely. You could have given examples of companies that have done relatively well and actively buy back shares, such as Philip Morris. Your PFE example is a good one, however, and in the long run the benefits of buybacks are at best mixed. I think it comes down to what the opportunities are. For some companies, buying back shares is better than overpaying for another company. Frankly, I'd like to see cash rich companies raise their dividends more. IMO that's a better way to return shareholder value.