Are Share Buybacks a Waste of Capital?

Shares issued when they were at a very high price. Which makes sense, right? What a master class of... Do you want to be deluded? Well, if you own the shares and shares are too expensive, yeah,. You want to use that overpriced... If someone values my house at $5 million and wants to buy a bedroom for a tenth of the price of that, I'll sell them a bedroom for 10 per cent less than what it is worth now. That's exactly how this works. So let's not say they're necessarily good or bad. But then let's overlay Rory's question about if they're making a loss, if they're bleeding money, why are