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Jason Zweig: The Fireworks Over Share Buybacks Are Duds, 2019

Ryan January 25, 2024 No Comments

Article from Jason Zweig of The Wall Street Journal discussing buybacks and how politicians are wrong to demonize them.

Man GLG: Stock Buybacks: Freeing the Invisible Hand, or Legitimising the Fat Finger, 2019

Ryan January 25, 2024 No Comments

Research report from hedge fund bank MAN GLG. Summary: “Do criticisms of buybacks – manipulate stock prices higher, crowd out investment, de-equitise public capital markets – have merit?”

Goldman Sachs: Top of Mind: Buyback Realities, 2019

Ryan January 24, 2024 No Comments

Research report from investment bank Goldman Sachs. Summary: “The surge in US corporate buybacks to all-time highs in 2018 has generated public debate about the effects of buybacks on workers,…

Two Sigma: Share Buybacks: A Brief Investigation, 2019

Ryan January 25, 2024 No Comments

Two Sigma examines whether the rise in stock buybacks has artificially propped up equity prices, suppressed market volatility and weakened corporate balance sheets.

AQR: Buyback Derangement Syndrome, 2018

Meer January 3, 2024 No Comments

Academic paper in The Journal of Portfolio Management, written by Cliff Adness, Todd Hazelkorn, and Scott Richardson of AQR. Summary: “A seemingly large amount of stock buybacks in recent years…

J.P. Morgan: Annual Report, 2018

Ryan January 25, 2024 No Comments

J.P. Morgan CEO Jamie Dimon explained why he believes, “stock buybacks are an essential part of proper capital allocation” on pages 5, 6 and 33.

Warren Buffett: Berkshire Hathaway Annual letter, 2018

Meer January 3, 2024 No Comments

Warren Buffett discussed stock buybacks in the 2018 annual letter to Berkshire Hathaway shareholders starting on page 6. “My expectation of more stock purchases is not a market call. Charlie…

OSAM: Buyback Bulls and Bears, 2016

Ryan January 25, 2024 No Comments

Research paper from O’Shaughnessy Asset Management. Summary: “This paper offers an examination of stocks with strong buybacks, trying to determine if they are thriving because of earnings or stock manipulation.”

OSAM: High Conviction Buybacks, 2015

Ryan January 25, 2024 No Comments

In 2015, O’Shaughnessy Asset Management put out a research paper discussing stock buybacks.

Aswath Damodaran: Stock Buybacks: Minunderstood, Misanalyzed, and Misdiagnosed, 2015

Meer January 3, 2024 No Comments

Article from NYU Professor Aswath Damodaran on the American Association of Individual Investors blog. Summary: “The benefit or harm of a stock buyback is dependent on several factors, including how…

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