Buyback Derangement Syndrome
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- Article
- Abstract
- MYTH 1: COMPANIES ARE SELF-LIQUIDATING USING SHARE REPURCASES AT A HISTORICALLY HIGH RATE
- MYTH 2: SHARE REPURCASES HAVE COME AT THE EXPENSE OF PROFITABLE INVESTMENT
- MYTH 3: THE RECENT RUN-UP IN PRICES IS THE RESULT OF SHARE REPURCHASES
- MYTH 4: COMPANIES THAT REPURCHASE SHARES DO SO ONLY TO INCREASE EPS AND THEREBY “PRICE”
- SOME POTENTIALLY VALID CRITICISMS OF SHARE REPURCHASES
- CONCLUSION
- ENDNOTES
- REFERENCES
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