Heisenberg post today – corp. buybacks

Heisenberg report put out a great piece today on corporate buybacks using bank reports as is their practice. While there are political and economic arguments to be made about buybacks, that’s not their intent nor mine. Regardless of your opinion, buybacks are an element of stock selection and portfolio management. We need to understand their potential implications and risks.

Here are a couple of graphical apertifs

Source= Goldman

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