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The Importance of Stock Buybacks
Jesse Hampton: I think in this case, they were very obviously used badly. It seems like there are a lot of companies out there that are essentially being busted out kind of in slow motion by taking on tons of debt to buy back stock. How big is the problem for the broader aggregate market or an first bust out period and then beyond? Warren Buffett: Absolutely a slow motion process. He says it's about one long time to play out before things get worse.