Buybacks – Annualized Performance

Buybacks – Annualized Performance Buybacks at high valuations might destroy shareholder value. Image: BofA US Equity & Quant Strategy

The Rise of the Tech Giants – Market Value

The Rise of the Tech Giants – Market Value In terms of returns to shareholders, Jeff Bezos (Amazon) is behind Elon Musk (Tesla) and Bill Gates (Microsoft) since flotation or during the CEO’s tenure. Image: Financial Times

Japan Stock Market

Japan Stock Market Japan holds more than 4% of the domestic stock market, making the BoJ the top shareholder of more than 55 companies in the Nikkei 225. Image: Macrobond Financial

What if Companies Paid Dividends Instead of Buybacks?

What if Companies Paid Dividends Instead of Buybacks? The S&P 500 Total Return (dividends reinvested) would have been 10% lower if buybacks subbed with dividends. But, are stock buybacks a good thing for shareholders? Yes, if done at a price below the intrinsic value of the company. Buybacks are a good substitute for dividends, because…