Jeff Gramm – Activist Investing - [Invest Like the Best, EP.01]
Invest Like the Best with Patrick O'Shaughnessy
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Bybacks
Companies that buy back, as you say, gobs of their shares have pretty significantly out performed the market over the longer term. The main issue is that boards often don't know how to value a companies. A bad byback directly destroys value, burns money. It's liket doesn't have anything to do with long term intrinsic value.
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