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Tuesday, April 05, 2016

Confidence Trick?

In February we received the reassuring news from Factset that companies that buy their own shares are down a collective (if that word can be used to describe any capitalist activity) US$126 billion over the last three years. 

When a company buys its own shares, it makes its profitability look better and bolsters confidence in would-be investors. 

This just proves that the only confidence one can have is that things will go bad sooner or later. 

John Ayers.

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