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Las Vegas capitalism and share buybacks gone wrong are discussed. Financial horror stories of elder abuse and overwhelming expenses are shared. The importance of estate planning is highlighted through a farmer's tale.
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Quick takeaways
- Prudent share buyback programs consider cash generation, strong balance sheets, and valuation.
- Careful estate planning is essential to protect assets and ensure a smooth transfer of wealth.
Deep dives
Signs of a Successful Share Buyback Program
A successful share buyback program is characterized by companies like Apple and eBay who have strong cash generation, super strong balance sheets, and the ability to afford buybacks through their cash generation. These companies consistently buy back shares regardless of market conditions, although they don't pay much attention to valuation. On the other hand, companies like MedPace Holdings demonstrate a better approach, buying back shares when valuations are low and halting the program when valuations are no longer compelling.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode