Buyback Bandwagon

"And with the surplus cash, we implement a major stock repurchase. So Trask is protected and their stock goes up, and everybody's happy...or not."
--Tess McGill (Working Girl)

Once again shaking my head as investors cheer another epic round of share buybacks while stock prices mark all time highs.

At current nosebleed prices, many shareholders would not personally buy more shares. But they're ok with corporate managers spending shareholder funds to buy back shares.

Perhaps they should take a closer look at Friedman's matrix.

What's going on is the furthest thing from 'buying low'...